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Real effective exchange rate and trade balance adjustment : the case of Turkey
Iossifov, Plamen; Fei, Xuan - 2019
There is an ongoing debate in the literature on whether global trade flows have become disconnected from the large real effective exchange rate movements in the wake of the global financial crisis. The question has important policy implications for the role of exchange rates in supporting growth...
Persistent link: https://www.econbiz.de/10012102059
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External adjustment in oil exporters : the role of fiscal policy and the exchange rate
Behar, Alberto; Fouejieu, Armand - 2016
After the decline in oil prices, many oil exporters face the need to improve their external balances. Special characteristics of oil exporters make the exchange rate an ineffective instrument for this purpose and give fiscal policy a sizeable role. These conclusions are supported by regression...
Persistent link: https://www.econbiz.de/10011711426
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China's Changing Trade Elasticities
Aziz, Jahangir - 2007
China''s sectoral trade composition, product quality mix, and import content of processing exports have all changed substantially during the past decade. This has rendered trade elasticities estimated using aggregate data highly unstable, with more recent data pointing to significantly higher...
Persistent link: https://www.econbiz.de/10014401157
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The Balance of Trade, the Terms of Trade, and the Real Exchange Rate : An Intertemporal Optimizing Framework
International Monetary Fund - 1988
This paper uses an intertemporal optimizing model of a small open economy to analyze how terms of trade changes affect real exchange rates and the trade balance. We consider temporary current, anticipated future, and permanent changes in the terms of trade. The results suggest that the...
Persistent link: https://www.econbiz.de/10014396150
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Comparative Advantage, Exchange Rates, and G-7 Sectoral Trade Balances
Golub, Stephen S. - 1994
time in sectoral trade balances, especially for the United States and Japan, are quite well explained by the evolution of …
Persistent link: https://www.econbiz.de/10014398683
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The Effects of Exchange Rate Change on the Trade Balance in Croatia
Stucka, Tihomir - 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/10014404059
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Anatomy of sudden yen appreciations
Han, Fei; Westelius, Niklas J. - 2019
The yen is an important barometer for the Japanese economy. Depreciations are typically associated with favorable … Japan's efforts to reflate the domestic economy and achieve the inflation target. This paper takes a closer look at … underlying drivers of rapid yen appreciations, highlighting the key role of carry-trade and the zero lower bound as important …
Persistent link: https://www.econbiz.de/10012102082
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The Internationalization of Yen and Key Currency Questions
Iwami, Toru - 1994
The role of the yen in the International financial system is reconsidered from a comparative (historical) approach …. Compared with the D-Mark in the postwar years, the limited use of the yen results not so much from regulations on capital … arrangement. Seen from the foreign economic relations, it is not possible for Japan to own a key-currency independent from the U …
Persistent link: https://www.econbiz.de/10014398125
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External Adjustment and the Strong Yen : Recent Japanese Experience
International Monetary Fund - 1988
rising yen between the fourth quarter of 1985 and the end of 1987. This suggests that Japan’s current account has been … that the rise in the yen has already made a substantial contribution to correcting Japan’s external imbalance …The parameters of a conventional model of Japan’s current account were found to be stable in the period of the steeply …
Persistent link: https://www.econbiz.de/10014395784
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Policy mix and the US trade balance
Adler, Gustavo; Osorio Buitron, Carolina - 2017
The strong US policy response to the 2008-09 financial crisis raised concerns about its impact (spillovers) on other countries, with great focus on the monetary stimulus but little attention to fiscal policy, despite their combined deployment. Using a sign-restricted structural VAR approach, we...
Persistent link: https://www.econbiz.de/10011742995