Real Exchange Rate Volatility

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The Effects Of Real Exchange Rate Volatility On Sectoral Investment

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Author : Bahar Erdal
language : en
Publisher: Routledge
Release Date : 2017-05-18

The Effects Of Real Exchange Rate Volatility On Sectoral Investment written by Bahar Erdal and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-05-18 with Business & Economics categories.

Originally published in 1997. This study investigates what the effects of real exchange rate volatility are on sectorial investment in the fixed and flexible exchange rate systems. It lays out the results of research into the effects of the levels and volatility of real exchange rates on investment in the manufacturing sectors of the countries in the European Monetary System as well as of the countries in the flexible exchange rate system, with data from between 1973 and 1993. Examining the differences between the two systems in the results this book also looks at exchange rate effects on interest rates at the time.

Real Exchange Rate Volatility

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Author : Ms.Hong Liang
language : en
Publisher: International Monetary Fund
Release Date : 1998-10-01

Real Exchange Rate Volatility written by Ms.Hong Liang and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998-10-01 with Business & Economics categories.

A recent study by Grilli and Kaminsky (1991) argues that real exchange rate (RER) behavior is likely to be dependent on the particular historical period rather than on the nominal exchange rate arrangement itself. This paper reexamines RER behavior using alternative data sets, as well as different econometric methods, over the period 1880-1997. It finds strong evidence supporting the nonneutrality hypothesis of nominal exchange regime on RER volatility. Also, regime shifts play an important role in determining the persistence of shocks to the RER.

Exchange Rate Volatility And World Trade

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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 1984-07-08

Exchange Rate Volatility And World Trade written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1984-07-08 with Business & Economics categories.

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.

Real Exchange Rate Volatility And Economic Openness

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Author : Harald Hau
language : en
Publisher:
Release Date : 2000

Real Exchange Rate Volatility And Economic Openness written by Harald Hau and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Foreign exchange rates categories.

Exchange Rate Volatility Pricing To Market And Trade Smoothing

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Author : Mr.Peter B. Clark
language : en
Publisher: International Monetary Fund
Release Date : 1997-10-01

Exchange Rate Volatility Pricing To Market And Trade Smoothing written by Mr.Peter B. Clark and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997-10-01 with Business & Economics categories.

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.

Exchange Rate Volatility And Trade Flows Some New Evidence

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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2004-05-19

Exchange Rate Volatility And Trade Flows Some New Evidence written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004-05-19 with Business & Economics categories.

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Remoteness And Real Exchange Rate Volatility

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Author : Claudio Bravo-Ortega
language : en
Publisher: International Monetary Fund
Release Date : 2005

Remoteness And Real Exchange Rate Volatility written by Claudio Bravo-Ortega and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Business & Economics categories.

This paper examines the impact of trade costs on real exchange rate volatility. The channel is examined by constructing a two-country Ricardian model of trade, based on the work of Dornbusch, Fischer, and Samuelson (1977), which shows that higher trade costs result in a larger nontradable sector. This, in turn, leads to higher real exchange rate volatility. We provide empirical evidence supporting the channel.

A New Look At Exchange Rate Volatility And Trade Flows

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Author : Mr. Peter B. Clark
language : en
Publisher: International Monetary Fund
Release Date : 2004-09-30

A New Look At Exchange Rate Volatility And Trade Flows written by Mr. Peter B. Clark and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004-09-30 with Business & Economics categories.

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.

Real Exchange Rate Volatility And The Price Of Nontradables In Sudden Stop Prone Economies

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Author : Enrique G. Mendoza
language : en
Publisher: International Monetary Fund
Release Date : 2006-03

Real Exchange Rate Volatility And The Price Of Nontradables In Sudden Stop Prone Economies written by Enrique G. Mendoza and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-03 with Business & Economics categories.

The dominant view in the empirical literature on exchange rates is that the high variability of real exchange rates is due to movements in exchange-rate-adjusted prices of tradable goods. This paper shows that this dominant view does not hold in Mexican data for the periods in which the country had managed exchange rate regimes. Variance analysis of a 30-year sample of monthly data shows that movements in the price of nontradables relative to tradables account for up to 70 percent of the variability of the real exchange rate during these periods. The paper proposes a model in which this stylized fact, and the Sudden Stops that accompanied the collapse of Mexico's managed exchange rates, could result from an endogenous amplification mechanism operating via nontradables prices in economies with dollarized liabilities and credit constraints. The key feature of this mechanism is Irving Fisher's debt-deflation process. Numerical evaluation suggests that the Fisherian deflation effects on consumption, the current account, and relative prices dwarf those induced by the standard balance sheet effect typical of the Sudden Stops literature.

Trade Openness And Real Exchange Rate Volatility

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Author : César Calderón
language : en
Publisher:
Release Date : 2004

Trade Openness And Real Exchange Rate Volatility written by César Calderón and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Foreign exchange rates categories.