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Exchange Rate or Wage Changes in International Adjustment? Japan and China versus the United States
McKinnon, Ronald - 2005
China or Japan, has no predictable effect on its trade surplus. Currency appreciation by the creditor country will slow its …-growth and low-growth economies, as between Japan and the U.S. from in 1950 to 1971 and China and the U.S. from 1994 to 2005 …
Persistent link: https://www.econbiz.de/10010297476
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Exchange rate dynamics and trade balance in selected African countries
Shuaibu, Mohammed Isa; Isah, Abdulrasheed - In: Journal of African Trade 7 (2020) 1/2, pp. 69-83
African countries have over the years experienced persistent current account deficits. The role of asymmetries in explaining the response of trade balance to exchange rate movement has not received adequate attention as linear models dominate extant empirical literature. In this paper, we...
Persistent link: https://www.econbiz.de/10013470700
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Monetary Policy Shocks and Portfolio Choice
Fratzscher, Marcel; Saborowski, Christian; Straub, Roland - 2009
The paper shows that monetary policy shocks exert a substantial effect on the size and composition of capital flows and the trade balance for the United States, with a 100 basis point easing raising net capital inflows and lowering the trade balance by 1% of GDP, and explaining about 20-25% of...
Persistent link: https://www.econbiz.de/10011605168
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How successful are exchange rate communication and interventions? Evidence from time-series and event-study approaches
Fratzscher, Marcel - 2005
The paper analyses whether communication and actual interventions in FX markets are successful in moving exchange rates over the medium- to long-run. It compares empirical evidence based on time-series analysis with that obtained from an eventstudy approach. Both the time-series approach based...
Persistent link: https://www.econbiz.de/10011604574
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Purchasing power parity: Granger causality tests for the yen-dollar exchange rate
Schnabl, Gunther; Baur, Dirk - 2001
The paper analyses the causality between the Japanese-US relative export prices and the yen-dollar exchange rate. It … explains why the Japanese yen proved strong even during the economic slump of the 1990s. The paper suggests that the … appreciation of the Japanese yen forced the Japanese enterprises into price reductions and productivity increases, which put a …
Persistent link: https://www.econbiz.de/10010305044
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China's macroeconomic policy trifecta and challenges to the governance of the global trading system
Kruger, Mark - 2020
A ceasefire has been called in the trade war between the United States and China, but there is lingering uncertainty that will stifle aggregate spending until a "peace treaty" is signed. China is thus currently undertaking a precarious policy trifecta balancing act - trying to maintain steady...
Persistent link: https://www.econbiz.de/10014565885
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Aggregate Trading Behavior of Technical Models and the Yen/Dollar Exchange Rate
Schulmeister, Stephan - 2007
fluctuations of the yen/dollar exchange rate. The paper shows first that these models would have exploited exchange rate trends …
Persistent link: https://www.econbiz.de/10011435219
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Profitability of Technical Currency Speculation. The Case of Yen-Dollar Trading 1976-2007
Schulmeister, Stephan - 2008
The paper investigates the profitability of 1,024 moving average and momentum models and their components in the yen …
Persistent link: https://www.econbiz.de/10011435249
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Aggregate Trading Behaviour of Technical Models and the Yen-Dollar Exchange Rate 1976-2007
Schulmeister, Stephan - 2008
fluctuations of the yen-dollar exchange rate. I show first that these models would have exploited exchange rate trends quite …
Persistent link: https://www.econbiz.de/10011435250
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A structural break in the effects of Japanese foreign exchange intervention on yen/dollar exchange rate volatility
Hillebrand, Eric; Schnabl, Gunther - 2006
left foreign exchange intervention unsterilized when Japan entered the liquidity trap in 1999. According to previous …
Persistent link: https://www.econbiz.de/10011604696