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Yen Bloc or Yuan Bloc; An Analysis of Currency Arrangements in East Asia
Shirono, Kazuko - International Monetary Fund (IMF) - 2009
This paper examines the role of Japan against that of China in the exchange rate regime in East Asia in light of … generate higher average welfare gains for East Asian countries than currency unions with Japan or the United States. Overall …, Japan does not appear to be a dominant player in forming a currency union in East Asia, and this trend is likely to continue …
Persistent link: https://www.econbiz.de/10005826046
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The Impact of Trade Liberalizationon the Trade Balance in Developing Countries
Wu, Yi; Zeng, Li - International Monetary Fund (IMF) - 2008
Using two recently constructed measures of trade liberalization dates, this research studies the impact of trade liberalization on imports, exports, and overall trade balance for a large sample of developing countries. We find strong and consistent evidence that trade liberalization leads to...
Persistent link: https://www.econbiz.de/10005248278
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The Effects of Exchange Rate Change on the Trade Balance in Croatia
Stucka, Tihomir - International Monetary Fund (IMF) - 2004
A reduced-form model approach was used to estimate the trade balance response to permanent domestic currency depreciation. For this purpose, long-run and short-run effects were estimated, using three modeling methods along with two real effective exchange rate measures. On average, a 1 percent...
Persistent link: https://www.econbiz.de/10005825612
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China's Growth and Integration into the World Economy; Prospects and Challenges
Prasad, Eswar - International Monetary Fund (IMF) - 2004
China’s transformation into a dynamic private-sector-led economy and its integration into the world economy have been among the most dramatic global economic developments of recent decades. This paper provides an overview of some of the key aspects of recent developments in China’s...
Persistent link: https://www.econbiz.de/10005252521
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Central America; Global Integration and Regional Cooperation
Rodlauer, Markus; Schipke, Alfred - International Monetary Fund (IMF) - 2005
Central America has received growing attention as a region that is integrating successfully into the global economy. This paper examines—among other things—the macroeconomic and fiscal implications of the Free Trade Agreement with the United States (CAFTA-DR), noting that the...
Persistent link: https://www.econbiz.de/10005252532
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Exchange Rates and Economic Fundamentals; A Framework for Analysis
Symansky, Steven A.; Clark, Peter B.; Bartolini, Leonardo; … - International Monetary Fund (IMF) - 1994
This paper summarizes the methods and types of indicators that are often employed, both insid and outside the IMF, to assess whether exchange rates are broadly in line with economic fundamentals.
Persistent link: https://www.econbiz.de/10005824872
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Mexico'S Integration Into Nafta Markets; A View From Sectoral Real Exchange Rates and Transaction Costs
Juvenal, Luciana; Blavy, Rodolphe - International Monetary Fund (IMF) - 2008
A self-exciting threshold autoregressive model is used to measure transaction costs that may explain relative price differentials and nonlinearities in the behavior of sectoral real exchange rates across Mexico, Canada and the U.S. Interpreting price threshold bands as transactions costs, we...
Persistent link: https://www.econbiz.de/10005826513
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A New Look at Exchange Rate Volatility and Trade Flows
Clark, Peter B.; Wei, Shang-Jin; Tamirisa, Natalia T.; … - International Monetary Fund (IMF) - 2004
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...
Persistent link: https://www.econbiz.de/10005767343
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The Convergence Dynamics of a Transition Economy; The Case of the Czech Republic
Bruha, Jan; Podpiera, Jiri; Polák, Stanislav - International Monetary Fund (IMF) - 2007
In this paper we develop a two-country dynamic general equilibrium model by means of which we seek to explain the long-run paths of a converging emerging market economy. We borrow a paradigm from the New Open Economy Macroeconomics literature and amend it to address specific features such as...
Persistent link: https://www.econbiz.de/10005768774
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Will You Buy My Peg? the Credibility of a Fixed Exchange Rate Regime As a Determinant of Bilateral Trade
Jurzyk, Emilia Magdalena; Fritz-Krockow, Bernhard - International Monetary Fund (IMF) - 2004
This paper examines the relationship between fixed exchange rate arrangements and trade using a gravity model of international trade together with bilateral trade data from 24 countries from the Caribbean and Latin America for the period 1960-2001. The analysis indicates that a credible fixed...
Persistent link: https://www.econbiz.de/10005768826