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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 … crisis, but intensified in the Summer and Fall of 1997 as the currency crisis unfolded and has continued through the Spring …
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
Persistent link: https://www.econbiz.de/10005361181
We examine differences in default rates by sector and obligor domicile. We find evidence that credit ratings have been imperfectly calibrated across issuer sectors in the past. Controlling for year of issue and rating, default rates appear to be higher for U.S. financial firms than for U.S....
Persistent link: https://www.econbiz.de/10005368242
portfolio size and degree of risk aversion of potential investors, the ability to borrow, and the hedging opportunities provided …
Persistent link: https://www.econbiz.de/10005368265