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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 … very wide. All this suggests greater caution in using historical data to simulate the response of the China''s economy to … external shocks and exchange rate changes. Analyses based on models whose estimated coefficients largely reflect the China of …
Persistent link: https://www.econbiz.de/10014401157
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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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Comparative Advantage, Exchange Rates, and G-7 Sectoral Trade Balances
Golub, Stephen S. - 1994
This paper uses a Ricardian framework to clarify the role of microeconomic and macroeconomic factors governing the time series and cross-section behavior of sectoral trade balances. Unit labor costs and trade balances are calculated for several sectors for the seven major industrial countries....
Persistent link: https://www.econbiz.de/10014398683
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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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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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Are bilateral trade balances irrelevant?
Eugster, Johannes L.; Jaumotte, Florence; MacDonald, Margaux - 2020
Based on an empirical gravity model of sectoral bilateral trade, we uncover three features of bilateral trade balances. First, the difficulty of gravity models in fitting the observed level of bilateral balances is likely due to the presence of unobservable bilateral trade costs. Second, the...
Persistent link: https://www.econbiz.de/10012391997
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Capital Inflows and the Real Exchange Rate : Analytical Framework and Econometric Evidence
Agénor, Pierre-Richard - 1996
Philippines, and Thailand. TCRER movements are associated only weakly with shocks to capital flows. Negative shocks to U ….S. interest rates lead to capital inflows in Asia and a TCRER appreciation in the Philippines and Thailand. Positive shocks to …
Persistent link: https://www.econbiz.de/10014398353
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Measuring the Trade Effects of EMU
Faruqee, Hamid - 2004
This paper examines the impact of European Economic and Monetary Union (EMU) on trade within the euro area. Using panel data for 22 industrial countries, the analysis estimates the effect of the euro''s arrival on area-wide trade compared to bilateral trade flows between other industrial...
Persistent link: https://www.econbiz.de/10014404163
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“Fiscal devaluation” and fiscal consolidation : the VAT in troubled times
Mooij, Ruud A. de; Keen, Michael - 2012
Persistent link: https://www.econbiz.de/10009572350