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Conventional and Unconventional Approaches to Exchange Rate Modeling and Assessment
Alquist, Ron - 2010
We examine the relative predictive power of the sticky price monetary model, uncovered interest parity, and a transformation of net exports and net foreign assets. In addition to bringing Gourinchas and Rey's new approach and more recent data to bear, we implement the Clark and West...
Persistent link: https://www.econbiz.de/10012760690
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Policy Responses to Exchange-Rate Movements
Ball, Laurence - 2009
This paper examines policy responses to exchange-rate movements in a simple model of an open economy. The optimal response of monetary policy to an exchange-rate change depends on the source of the change: on whether the underlying shock is a shift in capital flows, manufactured exports, or...
Persistent link: https://www.econbiz.de/10013157763
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On the Won and Other East Asian Currencies
Chinn, Menzie David - 2021
Five East Asian currencies -- the Indonesian rupiah, Korean won, Singapore dollar, Taiwanese dollar, and the Thai baht … simulation, the out-of-sample fit of the estimated models is relatively good for the won, Singapore and New Taiwan dollars, and …
Persistent link: https://www.econbiz.de/10013237252
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The WTO Government Procurement Agreement and its Impacts on Trade
Chen, Hejing - 2011
This paper assesses the impacts of the WTO Government Procurement Agreement (GPA) on trade in both goods and services among members using a gravity model applied to a panel dataset covering 20 OECD countries over the period 1996-2008 for trade in goods and 1999-2008 for trade in services. The...
Persistent link: https://www.econbiz.de/10013120994
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The Tradability of Services : Geographic Concentration and Trade Costs
Gervais, Antoine - 2013
In this paper, we use a unique dataset on the distribution of output and demand across regions of the United States to estimate trade costs for 969 service and manufacturing industries. Our estimation method is a natural extension of the gravity model of trade and identifies trade costs in the...
Persistent link: https://www.econbiz.de/10013071505
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Foreign Affiliate Sales and Trade in Both Goods and Services
Chunding, Li - 2010
Because of the differing forms that international agreements on trade in goods and trade in services take in the GATT (1994) and the GATS there is an incompatibility between measures of world trade in goods and services. Measures of goods trade reflecting GATT (1994) are restricted to trade that...
Persistent link: https://www.econbiz.de/10013139148
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Trade-in-Goods and Trade-in-Tasks : An Integrating Framework
Baldwin, Richard - 2010
Our paper integrates results from trade-in-task theory into mainstream trade theory by developing trade-in-task analogues to the four famous theorems (Heckscher-Ohlin, factor price equalisation, Stolper-Samuelson, and Rybczynski) and showing the standard gains-from-trade theorem does not hold...
Persistent link: https://www.econbiz.de/10013145015
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Trade Integration and Risk Sharing
Kraay, Aart; Ventura, Jaume - 2021
What are the effects of increased trade in goods and services on the trade balance? We study the effects of reducing transport costs in a Ricardian model with complete asset markets. Trade integration has three effects on the structure of the economy: a reduction in the home bias in consumption,...
Persistent link: https://www.econbiz.de/10013218506
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The Yen and its East Asian Neighbors, 1980-1995 : Cooperation or Competition?
Takagi, Shinji - 2021
closely with a depreciating yen, suggesting the countries' emphasis on export promotion. The Singapore dollar, on the other … contributed more to monetary cooperation in Asia than emphasis on export promotion …
Persistent link: https://www.econbiz.de/10013246656
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Capital Flows and Exchange Rate Volatility : Singapore'S Experience
Kapur, Basant K. - 2021
Singapore%u2019s experience with international capital flows over the past two decades or so has been a rather %u2013 … system and equities market, and operating on a Currency Board (CB) system (although with some differences from Singapore … time. We next discuss Singapore%u2019s policy background and early experience, and in the light of Hong Kong%u2019s …
Persistent link: https://www.econbiz.de/10013218342