The exchange rate susceptibility of European core industries, 1995-2010

David Leuwer/Bernd Süßmuth

This study investigates reactions to real exchange rate changes in the German, French and UK automobile and mechanical engineering sectors using monthly data from 1995 to 2010. Our findings indicate that EUR/USD appreciations hamper exports, but do not necessarily imply an aggravated business climate or export order-book assessment. This does not apply to the GBP/USD and corresponding time series for the UK. First and foremost, our fixed coefficient and time varying parameter VAR model estimates confirm the extraordinary role of the German key sectors, while currency union membership seems to play a minor role at best. Overall, the exchange rate susceptibility is less profound than claimed by lobbies and held as popular belief.

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Year of publication:	Mai 2017
Authors:	Leuwer, David ; Süssmuth, Bernd
Publisher:	Leipzig : Universität Leipzig, Faculty of Economics and Management Science
Subject:	Exporting sectors \| confidence indicators \| structural VAR \| EU-Staaten \| EU countries \| Wechselkurs \| Exchange rate \| VAR-Modell \| VAR model \| Außenhandel mit Industriegütern \| Manufactures trade \| Wirtschaftsindikator \| Economic indicator \| Kaufkraftparität \| Purchasing power parity

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Extent:	1 Online-Ressource (circa 53 Seiten) Illustrationen
Series:	Arbeitspapiere der Wirtschaftswissenschaftlichen Fakultät. - Leipzig : [Verlag nicht ermittelbar], ISSN 1437-9384, ZDB-ID 2488843-6. - Vol. no. 147
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Arbeitspapier ; Working Paper ; Graue Literatur ; Non-commercial literature
Language:	English
Other identifiers:	hdl:10419/162135 [Handle]
Classification:	C30 - Econometric Methods: Multiple/Simultaneous Equation Models. General ; E42 - Monetary Systems; Standards; Regimes; Government and the Monetary System ; F41 - Open Economy Macroeconomics
Source:	ECONIS - Online Catalogue of the ZBW

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