, the external terms of trade, and productivity in the manufacturing sector. A once-and-for-all unit increase in the ratio …

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 peg has a positive impact on the value of bilateral trade. Moreover, the …

This paper examines the effects of trade costs on macroeconomic volatility. We first construct a dynamic, two …-country general equilibrium model, where the degree of market integration depends directly on trade costs (transport costs, tariffs …, etc.). The model is a extension of Obstfeld and Rogoff (1995). Naturally, a reduction in trade costs leads to more market …

This paper provides econometric estimates of trade elasticities for Brazil obtained through cointegration and vector … responsiveness of Brazil's trade flows to the real exchange rate, but (ii) the GDP growth rates targeted by the new government may …

Thailand had to endure three major shocks during 2008–2011: the global financial crisis, the Japanese earthquake, and … the Thai floods of 2011. Over this period, consistent with its inflation targeting framework, the Bank of Thailand (BOT … added up to a total of 4 percentage points to real GDP growth during periods when Thailand had to weather these three major …

GDP indicate non-oil export volumes are relatively responsive while service exports are less responsive. Downward … Europe and emerging markets presents further downside risks for exports. The Maghreb countries are particularly sensitive to …

International trade is vital for economic prosperity in Pacific island countries, but their trade performance has been … center presents Pacific island countries with an unprecedented opportunity to develop trade with Asia, particularly in … tourism for a number of PICs. Moreover, if a strong two-way linkage is established between tourism and agriculture, Pacific …

In this paper we estimate gravity models to see whether trade volumes of countries in the MENA region are significantly … show that the variables used in standard gravity models cannot explain a significant part of MENA's trade performance …, particularly on exports. We then go on to 'augment' the standard gravity model with relevant variables from the World Bank …

We examine how Korea’s capital flows and trade have been affected by the quantitative easing (QE) of the United … in the world market for trade. We find that QE had little direct impact on capital flows to Korea, and tapering is … the exchange rate spillover from QQME to Korea has been limited both on trade and capital flow fronts. …