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The Balance Of Trade The Terms Of Trade And The Real Exchange Rate
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Book Synopsis The Balance of Trade, the Terms of Trade, and the Real Exchange Rate by : International Monetary Fund
Download or read book The Balance of Trade, the Terms of Trade, and the Real Exchange Rate written by International Monetary Fund and published by International Monetary Fund. This book was released on 1988-01-01 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper uses an intertemporal optimizing model of a small open economy to analyze how terms of trade changes affect real exchange rates and the trade balance. We consider temporary current, anticipated future, and permanent changes in the terms of trade. The results suggest that the relationship between the terms of trade and the current account (the so-called Harberger-Laursen-Metzler effect) may be quite sensitive to whether or not the model incorporates nontraded goods. Thus, the real exchange rate may be an important variable through which terms of trade shocks are transmitted to the current account.
Book Synopsis The Balance of Trade, the Terms of Trade, and the Real Exchange Rate by : Jonathan David Ostry
Download or read book The Balance of Trade, the Terms of Trade, and the Real Exchange Rate written by Jonathan David Ostry and published by . This book was released on 1988 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Open Economy Macroeconomics by : Martín Uribe
Download or read book Open Economy Macroeconomics written by Martín Uribe and published by Princeton University Press. This book was released on 2017-04-04 with total page 646 pages. Available in PDF, EPUB and Kindle. Book excerpt: A cutting-edge graduate-level textbook on the macroeconomics of international trade Combining theoretical models and data in ways unimaginable just a few years ago, open economy macroeconomics has experienced enormous growth over the past several decades. This rigorous and self-contained textbook brings graduate students, scholars, and policymakers to the research frontier and provides the tools and context necessary for new research and policy proposals. Martín Uribe and Stephanie Schmitt-Grohé factor in the discipline's latest developments, including major theoretical advances in incorporating financial and nominal frictions into microfounded dynamic models of the open economy, the availability of macro- and microdata for emerging and developed countries, and a revolution in the tools available to simulate and estimate dynamic stochastic models. The authors begin with a canonical general equilibrium model of an open economy and then build levels of complexity through the coverage of important topics such as international business-cycle analysis, financial frictions as drivers and transmitters of business cycles and global crises, sovereign default, pecuniary externalities, involuntary unemployment, optimal macroprudential policy, and the role of nominal rigidities in shaping optimal exchange-rate policy. Based on courses taught at several universities, Open Economy Macroeconomics is an essential resource for students, researchers, and practitioners. Detailed exploration of international business-cycle analysis Coverage of financial frictions as drivers and transmitters of business cycles and global crises Extensive investigation of nominal rigidities and their role in shaping optimal exchange-rate policy Other topics include fixed exchange-rate regimes, involuntary unemployment, optimal macroprudential policy, and sovereign default and debt sustainability Chapters include exercises and replication codes
Book Synopsis Current Account Rebalancing and Real Exchange Rate Adjustment Between the U.S. and Emerging Asia by : Ms.Isabelle Mejean
Download or read book Current Account Rebalancing and Real Exchange Rate Adjustment Between the U.S. and Emerging Asia written by Ms.Isabelle Mejean and published by International Monetary Fund. This book was released on 2011-03-01 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: A reduction in the U.S. current account deficit vis-à-vis emerging Asia involves a shift in demand from U.S. to emerging Asia tradable goods and a change in international relative prices. This paper quantifies the required adjustment in the terms of trade and real exchange rates in a three-country open economy model of the U.S., China, and other emerging Asia. We compare scenarios where both Chinese and other emerging Asian export prices change by the same proportion to the case where export prices remain constant in one country and increase in the other. Our results are robust to different assumptions about elasticities of substitution and to introducing a high degree of vertical fragmentation in production in the model.
Book Synopsis U.S. Trade Deficit: Causes, Consequences, and Cures by : Albert E. Burger
Download or read book U.S. Trade Deficit: Causes, Consequences, and Cures written by Albert E. Burger and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 318 pages. Available in PDF, EPUB and Kindle. Book excerpt: On October 23 and 24, 1987, the Federal Reserve Bank of St. Louis hosted its twelfth annual economic policy conference, "The U.S. Trade Deficit: Causes, Consequences, and Cures." This book contains the papers and comments delivered at that conference. A sharp decline in the value of the dollar against major foreign cur rencies began in March 1985 and continued through December 1987. Despite this decline, the U.S. trade deficit experienced considerable growth during this time. Many consider the simultaneous occurrence of these two events over so long a period to be a problem requiring a policy response. The conference addresses this issue. Various papers discuss the cause of the trade deficit, the reason for its size and persistence, its relation ship with other macroeconomic variables, its impact on other industrialized countries, and various policy proposals aimed at reducing the deficit. Session I Peter Hooper and Catherine L. Mann provide an analytical setting for the conference with their "The U.S. External Deficit: Its Causes and Persistence." Their observation that the unprecedentedly large U. S. trade imbalance is striking in both its size and its persistence could well be the subtitle of each of the papers presented. The macroeconomic studies, which Hooper and Mann summarize in their review of the existing literature, uniformly conclude that the deficit has not responded to fundamental macroeconomic determinants-relative U.S. income growth and the dollar's exchange rate-in the way that earlier, smaller U.S.
Book Synopsis International Economic Interdependence, Patterns of Trade Balances and Economic Policy Coordination by : Mario Baldassarri
Download or read book International Economic Interdependence, Patterns of Trade Balances and Economic Policy Coordination written by Mario Baldassarri and published by Springer. This book was released on 2016-07-27 with total page 437 pages. Available in PDF, EPUB and Kindle. Book excerpt: The subject of this book is the kind of economic interaction and interdependence that has arisen among nations in the contemporary world economy, the nature and significance of the pattern of trade balances that have resulted from them, and the question of what, if anything, should be done by national governments about that pattern. The need for international coordination of economic policies is also investigated.
Book Synopsis Response of the Equilibrium Real Exchange Rate to Real Disturbances in Developing Countries by : Mr.Mohsin S. Khan
Download or read book Response of the Equilibrium Real Exchange Rate to Real Disturbances in Developing Countries written by Mr.Mohsin S. Khan and published by International Monetary Fund. This book was released on 1991 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using a simple dependent - economy framework, this paper outlines the links between the equilibrium real exchange rate and some of its fundamental exogenous determinants, mainly terms of trade movements and commercial policy changes. Drawing on existing studies of trade flows in developing countries, it is possible to derive plausible quantitative ranges for the response of the equilibrium real exchange rate to both external and policy-induced shocks. The results should be particularly relevant in designing real exchange rate targets and rules that allow for movements in the equilibrium real exchange rate in response to various shocks.
Book Synopsis Terms of Trade by : Alan V. Deardorff
Download or read book Terms of Trade written by Alan V. Deardorff and published by World Scientific. This book was released on 2006 with total page 397 pages. Available in PDF, EPUB and Kindle. Book excerpt: Offers a glossary of terms in both international trade and international finance, with emphasis on economic issues. This book includes a picture gallery of diagrams used to explain key concepts such as the Edgeworth Production Box and the Offer Curve Diagram in international economics. It is grouped by subject to help users find the terms easily.
Book Synopsis Estimating the Equilibrium Real Exchange Rate by : Mr.Tarhan Feyzioglu
Download or read book Estimating the Equilibrium Real Exchange Rate written by Mr.Tarhan Feyzioglu and published by International Monetary Fund. This book was released on 1997-09-01 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: An equilibrium exchange rate is here defined as the level that is consistent with simultaneous internal and external balances as specified in Montiel (1996). Exogenous “fundamental” variables determining these balances are identified. Along the lines of Edwards (1994), a reduced form is estimated with the cointegration technique for Finland for the period 1975-95. The estimation produced a reasonable set of equilibrium exchange rates that appreciate with positive shocks to the terms of trade, world real interest rates, and the productivity differential between Finland and its trading partners.
Book Synopsis Trade, the Balance of Payments and Exchange Rate Policy in Developing Countries by : A. P. Thirlwall
Download or read book Trade, the Balance of Payments and Exchange Rate Policy in Developing Countries written by A. P. Thirlwall and published by Edward Elgar Publishing. This book was released on 2003 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a synthesis of the author's ideas and research concerning the monetary consequences of trade flows, and the relevance of conventional balance of payments adjustment theory. These ideas are considered mainly in the context of developing countries, many of which suffer from deep structural difficulties and severe foreign exchange shortages. Mainstream economic theory regards the balance of payments to be self-adjusting, meaning that the impact of the balance of payments on the growth and development process is neither considered nor analysed. In contrast, the author emphasises the importance of integrating monetary considerations into trade theory and argues that the balance of payments consequences of trade policy need to be carefully addressed. This approach has a number of implications for important issues such as the sequencing of trade liberalisation; the role of the exchange rate in equilibrating the balance of payments; the case for protection; and the way in which the importance of export growth is articulated. Some of the ideas expressed have a long and distinguished ancestry, but they are not part of the mainstream orthodoxy and need airing in a world increasingly divided into rich and poor countries. The author also considers the case for a new international economic order which would better serve the needs of developing countries, particularly by stabilising primary product prices and controlling speculative capital flows. Trade and development economists, and policymakers concerned with economic growth and development, will appreciate the original and illuminating research in this book.
Book Synopsis Economic Policy, Exchange Rates, and the International System by : W. Max Corden
Download or read book Economic Policy, Exchange Rates, and the International System written by W. Max Corden and published by University of Chicago Press. This book was released on 1994 with total page 335 pages. Available in PDF, EPUB and Kindle. Book excerpt: This account of exchange rates in the international monetary system considers the issues in international macroeconomics. Using theoretical models of international economics it explains the effects of various policies and issues in macroeconomics.
Book Synopsis The International Role of the Dollar and Trade Balance Adjustment by : Linda S. Goldberg
Download or read book The International Role of the Dollar and Trade Balance Adjustment written by Linda S. Goldberg and published by . This book was released on 2006 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 its trading partners. With low exchange rate pass-through to U.S. import prices and high exchange rate pass-through to the local prices of countries consuming U.S. exports, the effect of dollar depreciation on real trade flows is dominated by an adjustment in U.S. export quantities, which increase as U.S. goods become cheaper in the rest of the world. Real U.S. imports are affected less because U.S. prices are more insulated from exchange rate movements -- pass-through is low and dollar invoicing is high. In relation to prices, the effects on the U.S. terms of trade are limited: U.S. exporters earn the same amount of dollars for each unit shipped abroad, and U.S. consumers do not encounter more expensive imports. Movements in dollar exchange rates also affect the international trade transactions of countries invoicing some of their trade in dollars, even when these countries are not transacting directly with the United States.
Book Synopsis Introduction to Computable General Equilibrium Models by : Mary E. Burfisher
Download or read book Introduction to Computable General Equilibrium Models written by Mary E. Burfisher and published by Cambridge University Press. This book was released on 2017-02 with total page 443 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book provides a hands-on introduction to computable general equilibrium (CGE) models, written at an accessible, undergraduate level.
Book Synopsis The Rate of Exchange and the Terms of Trade by : Isaiah Friedman
Download or read book The Rate of Exchange and the Terms of Trade written by Isaiah Friedman and published by Routledge. This book was released on 2017-07-26 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume originated in a course of lectures which the author originally gave at the Universitu lnternationale de Sciences Comparues at Luxembourg. The book appeared under the title of the course, and followed the same pattern. In the course of revisions the analysis has been carried a little further than it was originally presented, and many details have been added to its algebraic parts. In spite of these amplifications, however, the text remains on the level of elementary economics, and may be recommended to students whose interest in the subject is ahead of their technical background. Ozga provides an intelligible theoretical outline of the rate of exchange, the terms of trade, and the balance of trade that brings into focus the complementarity of various widely used models. Simple supply and demand relations are developed to establish a link between the classical and Keynesian approaches and between the partial and the general equilibrium methods; and the emphasis is always on clarifying the part that the relations considered in individual models would actually play in a more comprehensive system. Requiring some familiarity with economic theory but no previous training in mathematics, this simple and concise volume is exceptionally well suited to courses on the macro-theory of international trade and is useful reading for all courses in macroeconomics.
Book Synopsis The Exchange Rate, International Trade and the Balance of Payments by : Reserve Bank of Australia. Economic Group
Download or read book The Exchange Rate, International Trade and the Balance of Payments written by Reserve Bank of Australia. Economic Group and published by . This book was released on 1993 with total page 338 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Fundamentals at Odds? The U.S. Current Account Deficit and The Dollar by : Mr.Gian Milesi-Ferretti
Download or read book Fundamentals at Odds? The U.S. Current Account Deficit and The Dollar written by Mr.Gian Milesi-Ferretti and published by International Monetary Fund. This book was released on 2008-11-01 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: The real effective exchange rate of the dollar is close to its minimum level for the past 4decades (as of September 2008). At the same time, however, the U.S. trade and currentaccount deficits remain large and, absent a significant correction in coming years, wouldcontribute to a further accumulation of U.S. external liabilities. The paper discusses thetension between these two aspects of the dollar assessment, and what factors can helpreconcile them. It focuses in particular on the terms of trade, adjustment lags, andmeasurement issues related to both the real effective exchange rate and the current accountbalance.
Author :United States. Congress. Senate. Committee on Finance. Subcommittee on International Trade Publisher : ISBN 13 : Total Pages :200 pages Book Rating :4.3/5 (91 download)
Book Synopsis Trade deficit by : United States. Congress. Senate. Committee on Finance. Subcommittee on International Trade
Download or read book Trade deficit written by United States. Congress. Senate. Committee on Finance. Subcommittee on International Trade and published by . This book was released on 1984 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt:
