Showing 1 - 10 of 78
The absence of data has, until now, precluded virtually all research on trading volume in the foreign exchange market. This paper introduces a new high-frequency foreign exchange dataset from EBS (Electronic Broking Service) that includes trading volume in the global interdealer spot market. The...
Persistent link: https://www.econbiz.de/10005368281
Using consumer price indexes from cities in the U.S., Canada and Mexico, we estimate the "border effect" on U.S.-Mexican relative prices and find that it is nearly an order of magnitude larger than for U.S.-Canadian prices. However, during a very stable sub-period in Mexico (May 1988 to November...
Persistent link: https://www.econbiz.de/10005368355
countries have collectively seen an improvement in their terms of trade during the crisis, reversing pre-crisis declines. The …
Persistent link: https://www.econbiz.de/10005372616
Though China's share of world trade is comparable to that of Japan, little is known about the response of China's trade … to changes in exchange rates. The few estimates available suffer from two limitations. First, the data for trade prices … empirical model explaining the shares of China's exports and imports in world trade in terms of the real effective value of the …
Persistent link: https://www.econbiz.de/10005712652
investigation, I build a multi-country trade model with endogenous adoption of a new transportation technology that is consistent … future usage, adoption costs, and trade with the United States, the first and largest user of containerization. …
Persistent link: https://www.econbiz.de/10011075130
We construct a new linked data set with over one thousand offshoring events by matching Trade Adjustment Assistance …
Persistent link: https://www.econbiz.de/10011075150
Trade credit--credit extended by a seller who does not require immediate payment for delivery of a product--is an …' nonmortgage loans from banks. Trade credit apparently is especially important for small businesses: In the same year, it accounted … for about 20 percent of small firms' liabilities. ; Businesses that choose to finance their purchases through trade credit …
Persistent link: https://www.econbiz.de/10005401507
We undertake tests of whether long term data from the U.S. and U.K. are consistent with the intertemporal government budget constraint and the intertemporal external borrowing constraint being satisfied in expected value terms, both individually and simultaneously. An historical perspective is...
Persistent link: https://www.econbiz.de/10005368127
By freeing Europe's regional and international trade from tariffs and other trade barriers, the General Agreement on … Tariffs and Trade (GATT) has often been hailed as a key factor in promoting the post-war economic recovery in Western Europe … does not appear to have stimulated a particularly rapid liberalization of world trade during this period. It is therefore …
Persistent link: https://www.econbiz.de/10005368148
The paper studies the effect of the market's perceived exchange rate volatility on bid-ask spreads. The anticipated volatility is extracted from currency options data. An increase in the perceived volatility is found to widen bid-ask spreads. The direction of the effect is consistent with an...
Persistent link: https://www.econbiz.de/10005368165