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A Reassessment of Pakistan's Aggregate Import Demand Function: An Application of Ardl Approach
Alam, Shaista - In: Journal of Developing Areas 46 (2012) 1, pp. 367-384
The present study re-estimated the import demand function for Pakistan on the basis of quarterly time series data by employing autoregressive distributed lag approach. The present study draws various significant conclusions from the estimation of aggregate merchandized import demand function....
Persistent link: https://www.econbiz.de/10011096523
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A Reassessment of Pakistan's Aggregate Import Demand Function: An Application of Ardl Approach
Alam, Shaista - In: Journal of Developing Areas 46 (2012) 1, pp. 371-388
The present study re-estimated the import demand function for Pakistan on the basis of quarterly time series data by employing autoregressive distributed lag approach. The present study draws various significant conclusions from the estimation of aggregate merchandized import demand function....
Persistent link: https://www.econbiz.de/10011097044
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Keeping up with the Joneses and exchange rate volatility in a Redux model
Chang, Ming-Jen; Chang, Juin-Jen; Shieh, Jhy-Yuan - In: International Review of Economics & Finance 29 (2014) C, pp. 569-584
By incorporating a keeping-up-with-the-Joneses preference into the Redux model, this paper sketches the implications of consumption externalities for the short-run and long-run equilibria. We show that the size of the consumption externality plays a crucial role in terms of affecting the...
Persistent link: https://www.econbiz.de/10010729743
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Currency intervention: A case study of an emerging market
Fry-McKibbin, Renée A.; Wanaguru, Sumila - In: Journal of International Money and Finance 37 (2013) C, pp. 25-47
Using a unique dataset on daily foreign exchange intervention and a new methodological framework of a latent factor model of central bank intervention, this paper addresses the effects of intervention in an emerging market. Events in financial markets from 2002 to 2010 provide a natural...
Persistent link: https://www.econbiz.de/10010709333
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Nonlinear Aspects of Goods-Market Arbitrage and Adjustment: Heckscher's Commodity Points Revisited
Obstfeld, Maurice; Taylor, Alan M. - C.E.P.R. Discussion Papers - 1997
We propose that analysis of purchasing power parity (PPP) and the law of one price (LOOP) should explicitly take into account the possibility of ‘commodity points’ – thresholds delineating a region of no central tendency among relative prices, possibly due to lack of perfect arbitrage in...
Persistent link: https://www.econbiz.de/10005662194
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Does exchange rate volatility deter Japan-China trade? Evidence from pre- and post-exchange rate reform in China
Nishimura, Yusaku; Hirayama, Kenjiro - In: Japan and the World Economy 25-26 (2013), pp. 90-101
through Dec. 2011 and examined both short-run and long-run effects of this volatility on exports of each country to the other … with an ARDL approach. The results indicate that Japan's exports to China are not affected by the exchange rate volatility …, but China's exports to Japan are negatively influenced during the reform period. Furthermore, the level of the exchange …
Persistent link: https://www.econbiz.de/10010666162
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The Impact of Rand/US Dollar Exchange Rate Volatility on the Performance of Futures Markets for Agricultural Commodities
Moholwa, Motlatjo; Guangling (Dave) Liu - In: The African Finance Journal 13 (2011) 1, pp. 28-46
This paper investigates the forecasting power of stock prices using two methods, namely, the random walk and the non-parametric methods. Using daily prices of the FTSE/JSE All Share index it is found that non-parametric methodology reveals distributional behaviour in the time series that is not...
Persistent link: https://www.econbiz.de/10008914365
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Monetary Policy, Foreign Exchange Intervention and Exchange Rate Volatility in Zambia
Chipili, Jonathan - In: The African Finance Journal 15 (2013) 1, pp. 36-55
Monetary policy and foreign exchange intervention reaction functions are estimated for Zambia over the period 1995.01-2008.12 using GMM to determine the extent to which the central bank takes into account in its policy decisions, output and inflation deviations from trend and target as well as...
Persistent link: https://www.econbiz.de/10010897164
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Determinants of Korean Trade Flows and their Geographical Destination
Giorgianni, Lorenzo; Milesi-Ferretti, Gian Maria - C.E.P.R. Discussion Papers - 1997
provides an assessment of the drastic change in the geographical destination of Korean exports during the 1990s. …
Persistent link: https://www.econbiz.de/10005497842
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Quality, Trade, and Exchange Rate Pass-Through
Chen, Natalie; Juvenal, Luciana - C.E.P.R. Discussion Papers - 2013
This paper investigates the heterogeneous response of exporters to real exchange rate fluctuations due to product quality. We model theoretically the effects of real exchange rate changes on the optimal price and quantity responses of firms that export multiple products with heterogeneous levels...
Persistent link: https://www.econbiz.de/10011084667