Real Exchange Rate Fluctuations and the Dynamics of Retail Trade Industries on the U.S.-Canada Border PDF Download
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Author: Jeffrey R. Campbell Publisher: ISBN: Category : Canada Languages : en Pages : 54
Book Description
Consumers living near the U.S.-Canada border can shift their expenditures between the two countries, so real exchange rate fluctuations can act as demand shocks to border areas' retail trade industries. Using annual county-level data, we estimate the effects of real exchange rates on the number of establishments and their average payroll in border counties for four retail industries. In three of the four industries we consider, the number of operating establishments responds either contemporaneously or with a lag of one year to real exchange rate movements. For these industries, the response of retailers' average size is less pronounced. The rapid response of net entry is inconsistent with any model of persistent deviations from purchasing power parity that depends on retailers' costs of changing nominal prices.
Author: Jeffrey R. Campbell Publisher: ISBN: Category : Canada Languages : en Pages : 54
Book Description
Consumers living near the U.S.-Canada border can shift their expenditures between the two countries, so real exchange rate fluctuations can act as demand shocks to border areas' retail trade industries. Using annual county-level data, we estimate the effects of real exchange rates on the number of establishments and their average payroll in border counties for four retail industries. In three of the four industries we consider, the number of operating establishments responds either contemporaneously or with a lag of one year to real exchange rate movements. For these industries, the response of retailers' average size is less pronounced. The rapid response of net entry is inconsistent with any model of persistent deviations from purchasing power parity that depends on retailers' costs of changing nominal prices.
Author: Jeffrey R. Campbell Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
Consumers living near the U.S.-Canada border can shift their expenditures between the two countries, so real exchange rate fluctuations can act as demand shocks to border areas' retailers. Using annual county-level data, we estimate the effects of real exchange rates on the number of establishments and their average employment in border counties for four retail industries. In three of the four industries we consider, the number of operating establishments responds either contemporaneously or with a lag of one year, so 'long-run' changes in net entry in fact occur quickly enough to matter for short-run fluctuations.
Author: Publisher: Springer ISBN: 1349588024 Category : Law Languages : en Pages : 7493
Book Description
The award-winning The New Palgrave Dictionary of Economics, 2nd edition is now available as a dynamic online resource. Consisting of over 1,900 articles written by leading figures in the field including Nobel prize winners, this is the definitive scholarly reference work for a new generation of economists. Regularly updated! This product is a subscription based product.
Author: Céline Gauthier Publisher: ISBN: Category : Foreign exchange rates Languages : en Pages : 21
Book Description
In this paper, we study the impact of supply shocks on the Canadian real exchange rate. We specify a structural vector-error-correction model that links the real exchange rate to different fundamentals. The identification scheme we use to recover the different shocks is based on long-run restrictions and allows us to decompose the real exchange rate according to different long-run trends, basically defined in terms of permanent shocks. Two main results emerge from our analysis. First, a positive supply shock in favour of Canada leads to a real exchange rate appreciation. Although consistent with the Balassa-Samuelson hypothesis, this result contradicts previous findings that have used a similar methodology. Second, commodity price shocks tend to dominate exchange rate movements over the short and medium run, but supply shocks have the largest impact over the long run. In particular, supply shocks explain most of the stochastic depreciation of the Canadian real exchange rate since the beginning of the 1990s.
Author: Thomas M. Fullerton (Jr.) Publisher: ISBN: Category : Drug traffic Languages : en Pages : 32
Book Description
"Exchange rate fluctuations and international business cycles may acutely affect retail sales in border regions where residents have the option of shopping in the neighboring country. This study examines the determinants of retail sales in six cities located along Mexico's northern border. Retail activity in these cities is found to increase in tandem with real depreciations of the peso, lower unemployment rates in neighboring US countries, and increased border crossings. Taken together, these results suggest that cross-border shopping contributes to retail activity in the northern border region of Mexico. The opportunities for cross-border shopping may also condition the impact of violent crime on border-region retail sales. In recent years northern Mexico has been deeply affected by a crime wave associated with competition among drug cartels. Homicides related to organized crime are found to have a statistically significant negative impact on retail sales. A surge in crime levels may stifle retail activity in affected areas as extortion and attacks force some stores to close or reduce operating schedules at the same time that some potential customers elect to shop in relatively safer districts across the international divide."--Page 4.
Author: Jeffrey R. Campbell
Author: Jeffrey R. Campbell
Author: Jeffrey R. Campbell
Author: Jeffrey R. Campbell
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Author: Céline Gauthier
Author: National Bureau of Economic Research
Author: Thomas M. Fullerton (Jr.)