Trade and Investment Performance Under Floating Exchange Rates PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Trade and Investment Performance Under Floating Exchange Rates PDF full book. Access full book title Trade and Investment Performance Under Floating Exchange Rates by International Monetary Fund. Download full books in PDF and EPUB format.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1451977700
Category : Business & Economics
Languages : en
Pages : 24
Get Book Here
Book Description
Contrary to the arguments of several scholars, we have failed to find either a conclusive theoretical case or clear empirical evidence of an effect, harmful or otherwise, of exchange rate variability (as measured by either short-term volatility or long-run misalignment) on overall levels of international trade. In this paper, after reviewing the theories and evidence on this issue, we go on to consider the impact of exchange rate variability on direct foreign investment. We summarize and amplify upon the scant theoretical literature of this issue, and proceed to test U.S. data for the presence of such an impact. We find none.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1451977700
Category : Business & Economics
Languages : en
Pages : 24
Get Book Here
Book Description
Contrary to the arguments of several scholars, we have failed to find either a conclusive theoretical case or clear empirical evidence of an effect, harmful or otherwise, of exchange rate variability (as measured by either short-term volatility or long-run misalignment) on overall levels of international trade. In this paper, after reviewing the theories and evidence on this issue, we go on to consider the impact of exchange rate variability on direct foreign investment. We summarize and amplify upon the scant theoretical literature of this issue, and proceed to test U.S. data for the presence of such an impact. We find none.
Author: Martin J. Bailey
Publisher:
ISBN:
Category : Foreign exchange
Languages : en
Pages : 22
Get Book Here
Book Description
Author: Martin J. Bailey
Publisher:
ISBN:
Category : Foreign exchange
Languages : en
Pages : 34
Get Book Here
Book Description
Author: Martin J. Bailey
Publisher:
ISBN:
Category :
Languages : en
Pages : 24
Get Book Here
Book Description
Contrary to the arguments of several scholars, we have failed to find either a conclusive theoretical case or clear empirical evidence of an effect, harmful or otherwise, of exchange rate variability (as measured by either short-terra volatility or long-run misalignment) on overall levels of international trade. In this paper, after reviewing the theories and evidence on this issue, we go on to consider the impact of exchange rate variability on direct foreign investment. We summarize and amplify upon the scant theoretical literature of this issue, and proceed to test U.S. data for the presence of such an impact. We find none.
Author: Martin J. Bailey
Publisher:
ISBN:
Category :
Languages : en
Pages : 22
Get Book Here
Book Description
Author: Joshua Aizenman
Publisher:
ISBN:
Category : Capital movements
Languages : en
Pages : 58
Get Book Here
Book Description
The purpose of this paper is to examine the implications of foreign direct investment and endogenous capacity choice on the welfare ranking of exchange rate regimes, and to analyze the linkages between volatility of shocks, the volume of trade and investment. We construct an intertemporal version of a monopolistic competitive framework, where producers may diversify internationally by foreign direct investment. Volatility is shown to induce both higher international trade in goods, as well as higher foreign direct investment, with the possibility of increasing the productive capacity in diversified industries. We apply the above framework to the welfare ranking of exchange rate regimes in the presence of nominal contracts. We show that the volatility of employment in the presence of real shocks is lower under a floating exchange rate regime, but that a by-product of the relative stability of employment is a lower expected GNP in a flexible exchange rate regime. Nominal shocks in a floating exchange rate regime are shown to generate international diversification, which leads to a higher capital cost of diversified industries. This effect implies a lower number of? independent producers and of varieties offered, ultimately leading to a lower expected utility of consumption. We show that attempts to reduce foreign direct investment by capital controls will tend to reduce welfare, without affecting our results regarding the ranking of exchange rate regimes. These observations lead us to conclude that volatility effects reduce the relative attractiveness of floating exchange rates. This conclusion applies to both real and nominal shocks.
Author: Anthony Lanyi
Publisher: Princeton, N.J. : International Finance Section, Princeton University
ISBN:
Category : Business & Economics
Languages : en
Pages : 48
Get Book Here
Book Description
Author: H Fournier
Publisher: Martinus Nijhoff Publishers
ISBN: 9004633987
Category : Law
Languages : en
Pages : 241
Get Book Here
Book Description
Author: Ronald MacDonald
Publisher: Routledge
ISBN: 1134838220
Category : Foreign exchange
Languages : en
Pages : 334
Get Book Here
Book Description
''In summary, the book is valuable as a textbook both at the advanced undergraduate level and at the graduate level. It is also very useful for the economist who wants to be brought up-to-date on theoretical and empirical research on exchange rate behaviour.'' ""Journal of International Economics""
Author: Bank of Canada
Publisher:
ISBN: 9780660186221
Category : Foreign exchange
Languages : en
Pages : 429
Get Book Here
Book Description
