Exchange Rate Volatility and Trade Flows--Some New Evidence PDF Download

Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1498330282
Category : Business & Economics
Languages : en
Pages : 132

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Author: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
ISBN: 1451956770
Category : Business & Economics
Languages : en
Pages : 228

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Book Description
A central proposition regarding effects of different mechanisms of fi-nancing public expenditures is that, under specific circumstances, it makes no difference to the level of aggregate demand if the government finances its outlays by debt or taxation. This so-called Ricardian equivalence states that, for a given expenditure path, substitution of debt for taxes does not affect private sector wealth and consumption. This paper provides a model illustrating the implications of Ricardian equivalence, surveys the litera-ture, considers effects of relaxing the basic assumptions, provides a frame-work to study implications of various extensions, and critically reviews recent empirical work on Ricardian equivalence.

Author: World Bank
Publisher: World Bank Publications
ISBN: 082138693X
Category : Business & Economics
Languages : en
Pages : 185

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Book Description
The first report in the new Global Development Horizons series looks at the multipolar global economy that is emerging and its implications for development, addressing the associated structural changes in growth dynamics, corporate investment, and international monetary and trade arrangements.

Author: Joseph E. Gagnon
Publisher: Peterson Institute
ISBN: 0881326356
Category : Business & Economics
Languages : en
Pages : 301

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Book Description
Volatile exchange rates and how to manage them are a contentious topic whenever economic policymakers gather in international meetings. This book examines the broad parameters of exchange rate policy in light of both high-powered theory and real-world experience. What are the costs and benefits of flexible versus fixed exchange rates? How much of a role should the exchange rate play in monetary policy? Why don't volatile exchange rates destabilize inflation and output? The principal finding of this book is that using monetary policy to fight exchange rate volatility, including through the adoption of a fixed exchange rate regime, leads to greater volatility of employment, output, and inflation. In other words, the "cure" for exchange rate volatility is worse than the disease. This finding is demonstrated in economic models, in historical case studies, and in statistical analysis of the data. The book devotes considerable attention to understanding the reasons why volatile exchange rates do not destabilize inflation and output. The book concludes that many countries would benefit from allowing greater flexibility of their exchange rates in order to target monetary policy at stabilization of their domestic economies. Few, if any, countries would benefit from a move in the opposite direction.

Author: Ronald MacDonald
Publisher: Routledge
ISBN: 1134838220
Category : Foreign exchange
Languages : en
Pages : 334

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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: Suchada Vichitakul Langley
Publisher: Captus Press
ISBN: 9781553220435
Category : Business & Economics
Languages : en
Pages : 184

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Book Description

Author: Richard E. Baldwin
Publisher: CEPR
ISBN: 1907142061
Category : Commercial policy
Languages : en
Pages : 246

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Author: Ezgi O. Ozturk
Publisher: International Monetary Fund
ISBN: 1484326113
Category : Business & Economics
Languages : en
Pages : 41

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Book Description
Motivated by the literature on the capital asset pricing model, we decompose the uncertainty of a typical forecaster into common and idiosyncratic uncertainty. Using individual survey data from the Consensus Forecasts over the period of 1989-2014, we develop monthly measures of macroeconomic uncertainty covering 45 countries and construct a measure of global uncertainty as the weighted average of country-specific uncertainties. Our measure captures perceived uncertainty of market participants and derives from two components that are shown to exhibit strikingly different behavior. Common uncertainty shocks produce the large and persistent negative response in real economic activity, whereas the contributions of idiosyncratic uncertainty shocks are negligible.

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: Peter B. Kenen
Publisher: Cambridge University Press
ISBN: 9780521580861
Category : Business & Economics
Languages : en
Pages : 358

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Book Description
This collection of essays is intended to help define an agenda for future research in the field of international trade and finance.