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The International Role of the Dollar and Trade Balance Adjustment

Goldberg, Linda S.; Tille, Cédric - National Bureau of Economic Research (NBER) - 2006

The pattern of international trade adjustment is affected by the continuing international role of the dollar and related evidence on exchange rate pass-through into prices. This paper argues that a depreciation of the dollar would have asymmetric effects on flows between the United States and...

Persistent link: https://www.econbiz.de/10005248778

Trade Invoicing in the Accession Countries: Are They Suited to the Euro?

Goldberg, Linda S. - National Bureau of Economic Research (NBER) - 2005

The accession countries to the euro area are increasingly binding their economic activity, external and internal, to … the euro area countries. One aspect of this phenomenon concerns the currency invoicing of international trade transactions … within exporter profitability. These considerations yield country-specific estimates about the degree of euro …

Persistent link: https://www.econbiz.de/10005084593

Financial-Sector FDI and Host Countries: New and Old Lessons

Goldberg, Linda S. - National Bureau of Economic Research (NBER) - 2004

Many of the lessons from foreign direct investment (FDI) research on manufacturing and extractive resource industries are applicable to financial-sector FDI. This paper reviews the main findings and policy themes of FDI research, with a primary focus on the host country implications of FDI for...

Persistent link: https://www.econbiz.de/10005084611

Micro, Macro, and Strategic Forces in International Trade Invoicing

Goldberg, Linda S.; Tille, Cédric - National Bureau of Economic Research (NBER) - 2009

The use of different currencies in the invoicing of international trade transactions plays a major role in the international transmission of economic fluctuations. Existing studies argue that an exporter's invoicing choice reflects structural aspects of her industry, such as market share and the...

Persistent link: https://www.econbiz.de/10008634643

Distribution Margins, Imported Inputs, and the Sensitivity of the CPI to Exchange Rates

Goldberg, Linda S.; Campa, Jose Manuel - National Bureau of Economic Research (NBER) - 2006

Border prices of traded goods are highly sensitive to exchange rates, but the CPI, and the retail prices of these goods, are more stable. Our paper decomposes the sources of this stability for twenty-one OECD countries, focusing on the important roles of distribution margins and imported inputs...

Persistent link: https://www.econbiz.de/10005718716

Macroeconomic Interdependence and the International Role of the Dollar

Goldberg, Linda S.; Tille, Cédric - National Bureau of Economic Research (NBER) - 2008

The U.S. dollar holds a dominant place in the invoicing of international trade, along two complementary dimensions. First, most U.S. exports and imports invoiced in dollars. Second, trade flows that do not involve the United States are also substantially invoiced in dollars, an aspect that has...

Persistent link: https://www.econbiz.de/10005720807

Exchange Rates and Wages

Goldberg, Linda S.; Tracy, Joseph - National Bureau of Economic Research (NBER) - 2001

The effects of exchange rate fluctuations across the population is an important issue for increasingly globalized economies. Previous studies using industry aggregate data have found differences across industries in the labor market implications of exchange rates, reporting that industry wages...

Persistent link: https://www.econbiz.de/10005829351

The Emergence of the Euro as an International Currency

Portes, Richard; Rey, Helene - National Bureau of Economic Research (NBER) - 1998

The European Union will enter Stage Three of Economic and Monetary Union (EMU) in 1999. The development of euro … financial markets and thickness externalities in the use of the euro as a means of payment will be the major factors determining … the importance of the euro as an international currency. As euro securities markets become deeper and more liquid and …

Persistent link: https://www.econbiz.de/10005829675

Exchange-Rate Pass-Through to Import Prices in the Euro Area

Campa, Jose Manuel; Goldberg, Linda S.; … - National Bureau of Economic Research (NBER) - 2005

countries and product categories, in the euro area over the last fifteen years. Our results show that the transmission of … the introduction of the euro caused a structural change in this transmission. Although estimated point elasticities seem … to have declined since the introduction of the euro, we find little evidence of a structural break in the transmission of …

Persistent link: https://www.econbiz.de/10005061592

When Is U.S. Bank Lending to Emerging Markets Volatile?

Goldberg, Linda S. - National Bureau of Economic Research (NBER) - 2001

Using bank-specific data on U.S. bank claims on individual foreign countries since the mid-1980s, this paper: 1) characterizes the size and portfolio diversification patterns of the U.S. banks engaging in foreign lending; and 2) econometrically explores the determinants of fluctuations in U.S....

Persistent link: https://www.econbiz.de/10005050224