discussion of flexibility and credibility trade-offs and exit issues. …

specifying price transmission equations in international trade models Protective policies, such as tariffs and quotas, reduce the …

The effect of exchange rate volatility on trade flows was examined by a 1984 IMF study on G-7 countries. Over the past … exchange hedging instruments, may have reduced the impact of volatility on trade flows. Using recent advances in the economic … theories on trade and in statistical methodologies, this paper revisits this important issue by taking into account these new …

This paper investigates empirically the relevance of external, domestic, and financial weaknesses as well as trade and …

This paper examines the effects of trade costs on macroeconomic volatility. We first construct a dynamic, two …-country general equilibrium model, where the degree of market integration depends directly on trade costs (transport costs, tariffs …, etc.). The model is a extension of Obstfeld and Rogoff (1995). Naturally, a reduction in trade costs leads to more market …

Latin AmericaÂ’s trade relationships have been severely strained by the series of uncoordinated currency depreciations … depreciations, whether forced by capital markets or unilaterally effected for competitive trade reasons, are equivalent to steep … increases in tariffs facing trading partners; they damage trade relationships and distort trade-oriented economic growth. The …

Australia has long been considered a commodity based economy, with the relationship between the terms of trade and the … real exchange rate well documented. Less well documented are the determinants of the Australian terms of trade and how … examines the Australian terms of trade since 1983 and links movements with the increasing internationalisation of the …

This paper provides econometric estimates of trade elasticities for Brazil obtained through cointegration and vector … responsiveness of Brazil's trade flows to the real exchange rate, but (ii) the GDP growth rates targeted by the new government may …