Author: United States Tariff CommissionPublisher:
ISBN:
Category : Foreign exchange
Languages : en
Pages : 244
Book Description
Depreciated Exchange ...
Author: United States Tariff CommissionPublisher:
ISBN:
Category : Foreign exchange
Languages : en
Pages : 244
Book Description
Exchange Depreciation
Author: Seymour Edwin HarrisPublisher: Cambridge : Harvard University Press
ISBN:
Category : Currency question
Languages : en
Pages : 556
Book Description
Global Value Chains and the Exchange Rate Elasticity of Exports
Author: Swarnali AhmedPublisher: International Monetary Fund
ISBN: 1513560972
Category : Business & Economics
Languages : en
Pages : 28
Book Description
This paper analyzes how the formation of Global Value Chains (GVCs) has affected the exchange rate elasticity of exports. Using a panel framework covering 46 countries over the period 1996-2012, we first find some suggestive evidence that the elasticity of real manufacturing exports to the Real Effective Exchange Rate (REER) has decreased over time. We then examine whether the formation of supply chains has affected this elasticity using different measures of GVC integration. Intuitively, as countries are more integrated in global production processes, a currency depreciation only improves competitiveness of a fraction of the value of final good exports. In line with this intuition, we find evidence that GVC participation reduces the REER elasticity of manufacturing exports by 22 percent, on average.
Exchange Rate Rules
Author: John WilliamsonPublisher: Springer
ISBN: 1349051667
Category : Business & Economics
Languages : en
Pages : 426
Book Description
Exchange Rate Theory and Practice
Author: John F. BilsonPublisher: University of Chicago Press
ISBN: 0226050998
Category : Business & Economics
Languages : en
Pages : 542
Book Description
This volume grew out of a National Bureau of Economic Research conference on exchange rates held in Bellagio, Italy, in 1982. In it, the world's most respected international monetary economists discuss three significant new views on the economics of exchange rates - Rudiger Dornbusch's overshooting model, Jacob Frenkel's and Michael Mussa's asset market variants, and Pentti Kouri's current account/portfolio approach. Their papers test these views with evidence from empirical studies and analyze a number of exchange rate policies in use today, including those of the European Monetary System.
Dominant Currency Paradigm: A New Model for Small Open Economies
Author: Camila CasasPublisher: International Monetary Fund
ISBN: 1484330609
Category : Business & Economics
Languages : en
Pages : 62
Book Description
Most trade is invoiced in very few currencies. Despite this, the Mundell-Fleming benchmark and its variants focus on pricing in the producer’s currency or in local currency. We model instead a ‘dominant currency paradigm’ for small open economies characterized by three features: pricing in a dominant currency; pricing complementarities, and imported input use in production. Under this paradigm: (a) the terms-of-trade is stable; (b) dominant currency exchange rate pass-through into export and import prices is high regardless of destination or origin of goods; (c) exchange rate pass-through of non-dominant currencies is small; (d) expenditure switching occurs mostly via imports, driven by the dollar exchange rate while exports respond weakly, if at all; (e) strengthening of the dominant currency relative to non-dominant ones can negatively impact global trade; (f) optimal monetary policy targets deviations from the law of one price arising from dominant currency fluctuations, in addition to the inflation and output gap. Using data from Colombia we document strong support for the dominant currency paradigm.
Farmer's Tax Guide
Author: Exchange Rate Movements and International Interdependence of Stock Markets
Author: International Monetary FundPublisher: International Monetary Fund
ISBN: 1451974493
Category : Business & Economics
Languages : en
Pages : 52
Book Description
This paper investigates linkages between stock markets in seven industrialized countries since 1974. Empirical evidence shows that both nominal and real stock prices (and returns) are strongly positively correlated across countries, and that nominal exchange rate changes do not have systematic effects on nominal stock prices. A two-country theoretical model is developed and an attempt is made to reconcile the empirical findings with the properties of this model. Independent evidence on the main sources of shocks is used to argue that the time-varying correlation in the data can be reconciled with the predictions of the theory.
Exchange Rates and Inflation
Author: Rudiger DornbuschPublisher: MIT Press
ISBN: 9780262540605
Category : Business & Economics
Languages : en
Pages : 490
Book Description
Collected for the first time in Exchange Rates and Inflation, twenty-two articles are gathered in four parts covering exchange rate theory, special topics in exchange rate economics, equilibrium real exchange rates, and inflation and stabilization.
Achieving Price, Financial and Macro-Economic Stability in South Africa
Author: Nombulelo GumataPublisher: Springer Nature
ISBN: 303066340X
Category : Business & Economics
Languages : en
Pages : 556
Book Description
This book explores the macro-financial effects of central bank balance sheets, macro-prudential tools, and financial regulation in South Africa. How employment can be maximised while keeping inflation low and stable is examined in relation to the structural changes required to alter the composition of South African bank balance sheets. Quantitative methods and approaches are utilised to highlight the impact of suggested policies. This book aims to outline strategies and policy interventions that can help achieve the National Development Plan in South Africa. It will be of interest to researchers and policymakers working within development economics, African economics, development finance, and financial policy.