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Author: Mr.Peter B. Clark
Publisher: International Monetary Fund
ISBN: 1451936621
Category : Business & Economics
Languages : en
Pages : 40
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Book Description
This paper investigates the consequences of exchange rate volatility on the variability of export prices and quantities in the presence of market segmentation and pricing to market. Firms stabilize destination prices through systematic price discrimination, limiting the degree of exchange rate pass-through. Consequently, the variability of exchange rates is not fully translated into prices and quantities at the point of destination. Empirical estimates using aggregate price data for the G-7 industrial countries show incomplete pass-through in variances, with considerable variation among these countries. U.S. industry specific data also indicate incomplete pass-through in most cases, with considerable variation across industries.
Author: Mr.Peter B. Clark
Publisher: International Monetary Fund
ISBN: 1451936621
Category : Business & Economics
Languages : en
Pages : 40
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Book Description
This paper investigates the consequences of exchange rate volatility on the variability of export prices and quantities in the presence of market segmentation and pricing to market. Firms stabilize destination prices through systematic price discrimination, limiting the degree of exchange rate pass-through. Consequently, the variability of exchange rates is not fully translated into prices and quantities at the point of destination. Empirical estimates using aggregate price data for the G-7 industrial countries show incomplete pass-through in variances, with considerable variation among these countries. U.S. industry specific data also indicate incomplete pass-through in most cases, with considerable variation across industries.
Author: Mr.Yan Carriere-Swallow
Publisher: International Monetary Fund
ISBN: 1475560311
Category : Business & Economics
Languages : en
Pages : 33
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Book Description
A long-standing conjecture in macroeconomics is that recent declines in exchange rate pass-through are in part due to improved monetary policy performance. In a large sample of emerging and advanced economies, we find evidence of a strong link between exchange rate pass-through to consumer prices and the monetary policy regime’s performance in delivering price stability. Using input-output tables, we decompose exchange rate pass-through to consumer prices into a component that reflects the adjustment of imported goods at the border, and another that captures the response of all other prices. We find that price stability and central bank credibility have reduced the second component.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 9781557750655
Category : Business & Economics
Languages : en
Pages : 76
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Book Description
In View of the continuation of substantial movements in exchange rate relationships among major currencies, the recent increase in protectionist pressures, and the disappointing performance of world trade, renewed concern has been expressed about the possible adverse effects of exchange rate variability on trade. Against the background of this concern, the following decision was reached at the ministerial meeting of the General Agreement of Tariffs and Trade (GATT) in November 1982.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1498330282
Category : Business & Economics
Languages : en
Pages : 132
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Book Description
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Author: Marshall Sarnat
Publisher:
ISBN:
Category : Foreign exchange
Languages : en
Pages : 264
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Book Description
Author: Mr.Giovanni Dell'Ariccia
Publisher: International Monetary Fund
ISBN: 1451852959
Category : Business & Economics
Languages : en
Pages : 28
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Book Description
This paper analyzes the effects of exchange rate volatility on bilateral trade flows. Through use of a gravity model and panel data from western Europe, exchange rate uncertainty is found to have a negative effect on international trade. The results seem to be robust with respect to the particular measures representing exchange rate uncertainty. Particular attention is reserved for problems of simultaneous causality. The negative correlation between trade and bilateral volatility remains significant after controlling for the simultaneity bias. However, a Hausman test rejects the hypothesis of the absence of simultaneous causality.
Author: Ying Qian
Publisher: World Bank Publications
ISBN:
Category : Exports
Languages : en
Pages : 47
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Book Description
Inconsistency in the relationship between exchange rate volatility and export growth reflects differences among countries in the currency in which trade is invoiced. Also, exchange rate volatility may affect the allocation of trade more than its level.
Author: Holger Brauer
Publisher: Springer Science & Business Media
ISBN: 9783540004301
Category : Foreign exchange rates
Languages : en
Pages : 250
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Book Description
Author: John Tirman
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 328
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Book Description
These essays review recent advances in exchange rate analysis and new empirical analysis of the behavior of exchange rates and their effects on international trade and the U.S. economy. The first section deals with the determination of exchange rates and their alleged volatility and disequilibrium levels. The second section concerns the effects of flexible exchange rates on international trade, and the third treats the macroeconomic linkages between economies and international influences on the U.S. economy. ISBN 0-88410-948-8 : $39.95.
Author: Peter Barton Clark
Publisher: Occasional Papers
ISBN: 9781589063587
Category : Business & Economics
Languages : en
Pages : 63
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Book Description
The effect of exchange rate volatility on trade flows was examined by a 1984 IMF study on G-7 countries. Over the past two decades, many developments in the world economy, such as the currency crises in the 1990s and increasing cross-border capital flows, may have exacerbated exchange rate volatility, while others, such as a deepening of the market in foreign exchange hedging instruments, may have reduced the impact of volatility on trade flows. Using recent advances in the economic theories on trade and in statistical methodologies, this paper revisits this important issue by taking into account these new developments and examining their effects on developing and transition economies, as well as on developed countries.
