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Eichengreen, Barry - 2021

prior foreign investments or through the large-scale export of services, or used the debt they incurred to finance … investment in infra- structure and to expand their capacity to export. Neither of these scenarios has a counterpart in current U …: a favorable shock to the terms of trade or a reallocation of resources toward investment in export-oriented sectors. The …

Persistent link: https://www.econbiz.de/10013214610

How Did the Dollar Peg Fail in Asia?

Itō, Takatoshi; Ogawa, Eiji; Sasaki, Yuri Nagataki - 2021

Japanese and US firms in their markets. The duopoly model is used to determine export prices and volumes in response to the … fluctuation of the growth rate of trade balance is derived. These are the novel features of our model. The export price equation … and export volume equation are estimated for several Asian countries for the sample period of 1981 to 1996. Results are …

Persistent link: https://www.econbiz.de/10013226986

Measuring the Intensity of Competition in Export Markets

Goldberg, Pinelopi K.; Knetter, Michael M. - 2021

This paper develops an approach to measuring the intensity of competition in international markets. The method measures the degree of 'outside' competition faced by exporters located in one source country from firms located outside the source country. We use the elasticity of price and quantity...

Persistent link: https://www.econbiz.de/10013233435

Instrumental Variables and Causal Mechanisms : Unpacking the Effect of Trade on Workers and Voters

Dippel, Christian - 2017

Instrumental variables (IV) are a common means to identify treatment effects. But standard IV methods do not allow us to unpack the complex treatment effects that arise when a treatment and its outcome together cause a second outcome of interest. For example, IV methods have been used to show...

Persistent link: https://www.econbiz.de/10012960515

Oil, Disinflation, and Export Competitiveness : A Model of the "Dutch Disease"

Buiter, Willem H.; Purvis, Douglas D. - 2021

This paper examines three possible sources of "de-industrialization" in an open economy: monetary disinflation, an increase in the international price of oil, and a 'domestic oil discovery. The analysis is conducted using a model which incorporates different speeds of adjustment in goods and...

Persistent link: https://www.econbiz.de/10013247221

Currency Diversification and Export Competitiveness : A Model of the "Egyptian Disease"

Braga de Macedo, Jorge - 2021

The paper presents a dynamic portfolio model under currency inconvertibility which rationalizes the recent Egyptian experience of real exchange rate appreciation and currency diversification following the increase in oil exports and the partial financial liberalization that took place after...

Persistent link: https://www.econbiz.de/10013216126

Product Mix and Firm Productivity Responses to Trade Competition

Mayer, Thierry - 2016

We document how demand shocks in export markets lead French multi-product exporters to re-allocate the mix of products … sold in those destinations. In response to positive demand shocks, those French firms skew their export sales towards their … competition from demand shocks in export markets – and the induced product mix reallocations – induce productivity changes within …

Persistent link: https://www.econbiz.de/10012986299

Oil Prices, Welfare and the Trade Balance : An Intertemporal Approach

Svensson, Lars E. O. - 2021

The paper examines welfare effects and the trade balance response to changes in the world oil prices and interest rates for a small oil-importing economy. The trade balance is mainly seen as the difference between saving and investment, and these are derived from intertemporal optimization. It...

Persistent link: https://www.econbiz.de/10013239392

Interest Rates, Exchange Rates and International Adjustment

Dooley, Michael P.; Folkerts-Landau, David F. I.; … - 2021

In this paper we examine the behavior of interest rates and exchange rates following a variety of shocks to the international monetary system. Our analysis suggests that real interest rates in the US and Europe will remain low relative to historical experience for an extended period but converge...

Persistent link: https://www.econbiz.de/10013244773

Dynamics of the Trade Balance and the Terms of Trade : the S-Curve

Backus, David; Kehoe, Patrick J.; Kydland, Finn E. - 2021

We provide a theoretical interpretation of two features of international data: the countercyclical movements in net exports and the tendency for the trade balance to be negatively correlated with current and future movements in the terms of trade, but positively correlated with past movements....

Persistent link: https://www.econbiz.de/10013248695