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Author : Jorge Quiroz
Publisher :
ISBN 13 :
Total Pages : 78 pages
Book Rating : 4.:/5 (318 download)
Download or read book Trade Reform and the Real Exchange Rate written by Jorge Quiroz and published by . This book was released on 1994 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Ms.Xiangming Li
Publisher : International Monetary Fund
ISBN 13 : 1451854749
Total Pages : 39 pages
Book Rating : 4.4/5 (518 download)
Download or read book Trade Liberalization and Real Exchange Rate Movement written by Ms.Xiangming Li and published by International Monetary Fund. This book was released on 2003-06-01 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although theory suggests that the real exchange rate should depreciate after a credible trade liberalization but could appreciate temporarily with a noncredible one, little empirical evidence exists. Unlike existing studies that use either indirect tests or unreliable openness measures, this paper uses an event study based on carefully documented trade liberalization in 45 countries. The result shows that real exchange rates depreciate after countries open their economies to trade. In countries with multiple liberalization episodes, however, real exchange rates appreciate during early episodes, suggesting that partial or noncredible trade liberalizations are associated with real appreciation.
Author : Mr.Vivek B. Arora
Publisher : International Monetary Fund
ISBN 13 : 1451933819
Total Pages : 26 pages
Book Rating : 4.4/5 (519 download)
Download or read book Trade Reform and Inflation Stabilization written by Mr.Vivek B. Arora and published by International Monetary Fund. This book was released on 1994-11-01 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines two important issues for a small high-inflation open economy with trade controls where the government implements an exchange-rate based stabilization program: first, the extent to which the degree of openness of the economy influences the probability of success of the program; and second, the conditions under which a trade reform, implemented in conjunction with the stabilization program, will increase the probability that stabilization will be successful. The paper shows that in an economy with high export and import price elasticities, structural reforms to increase openness can be important in determining the success of the program.
Author : Miguel Alberto Kiguel
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 35 pages
Book Rating : 4./5 ( download)
Download or read book Exchange Rate Policy, the Real Exchange Rate and Inflation written by Miguel Alberto Kiguel and published by World Bank Publications. This book was released on 1992 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Howard J. Shatz
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 36 pages
Book Rating : 4./5 ( download)
Download or read book Exchange Rate Overvaluation and Trade Protection written by Howard J. Shatz and published by World Bank Publications. This book was released on 2000 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Lessons from world experience about the consequences of exchange rate overvaluation (the frequent cause of trade crises), the consequences of trying to defend an overvalued exchange rate, and the most appropriate policies for resolving an overvaluation"--Cover.
Author : Chief Economist Latin America and Caribbean Region Sebastian Edwards
Publisher :
ISBN 13 : 9780262519014
Total Pages : 0 pages
Book Rating : 4.5/5 (19 download)
Download or read book Real Exchange Rates, Devaluation, and Adjustment written by Chief Economist Latin America and Caribbean Region Sebastian Edwards and published by . This book was released on 1989-08-04 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Real Exchange Rates, Devaluation, and Adjustment provides a unified theoretical and empirical investigation of exchange rate policy and performance in scores of developing countries. It develops a theory of equilibrium and disequilibrium real exchange rates, takes up the question of why devaluations are the most controversial policy measures in poorer nations, and discusses what determines their success or failure. In a lucid fashion, Edwards organizes vast amounts of data on exchange rates - both real and nominal - and discusses their effect on net trade balances, net asset positions, output growth, real wages, and rates of price inflation, analyzed both in time series and through cross country comparisons. Edwards's investigation singles out 39 major devaluation episodes for before and after comparative analyses while simultaneously isolating the separate effects of other important explanatory variables, such as bank credit expansion and changes in the terms of trade. The first part of the book focuses on theoretical models of devaluation and real exchange rate behavior in less developed countries. Special attention is paid to intertemporal channels in the transmission of disturbances. The second part uses a large cross country data set to analyze the way the real exchange rate has behaved in these nations. The data are also used to test the implications of several theories of real exchange rate determination. The third part analyzes actual devaluation experiences between 1962 and 1982. These chapters examine the events leading to a balance of payments crisis and to a devaluation, exploring the relation between macroeconomic disequilibrium, and the imposition of trade and exchange controls. They also investigate the effect of nominal devaluation on key variables such as the balance of payments, the current account, the real exchange rate, real output real wages, and income distribution.
Author : Geoffrey Shepherd
Publisher :
ISBN 13 :
Total Pages : 164 pages
Book Rating : 4.:/5 (318 download)
Download or read book Trade Reform written by Geoffrey Shepherd and published by . This book was released on 1991 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :
Publisher : World Bank Publications
ISBN 13 : 0928094731
Total Pages : 45 pages
Book Rating : 4.9/5 (28 download)
Download or read book Developing Country Experience in Trade Reform written by and published by World Bank Publications. This book was released on with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Ms.Rina Bhattacharya
Publisher : INTERNATIONAL MONETARY FUND
ISBN 13 : 9781451858747
Total Pages : 34 pages
Book Rating : 4.8/5 (587 download)
Download or read book Trade and Domestic Financial Market Reform Under Political Uncertainty written by Ms.Rina Bhattacharya and published by INTERNATIONAL MONETARY FUND. This book was released on 2000-10-01 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a model that incorporates uncertainty about trade reform and analyzes the effects of trade and financial liberalization on domestic investment and savings, the current account balance and the real exchange rate, both when the capital account is open and when it is closed. Under certain assumptions financial liberalization leads to a movement of resources in the opposite direction to that implied by trade liberalization and to real exchange rate appreciation, thus defeating one of the objectives of tariff reform, when the capital account is open. When political economy linkages are taken into account, however, the indirect effects of financial liberalization may offset the direct effects, encouraging a movement of resources in the desired direction. With a closed capital account these results should still hold unless there are strong negative income effects from trade reform.
Author : Sebastian Edwards
Publisher :
ISBN 13 :
Total Pages : 88 pages
Book Rating : 4.:/5 (318 download)
Download or read book Trade Policy, Exchange Rates and Growth written by Sebastian Edwards and published by . This book was released on 1993 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the relationship between trade policy and economic performance. The paper is divided in two fundamental parts. The first one uses a cross country data set to investigate the relationship between trade policy and productivity growth. It is found that countries that are more open to the rest of the world have experienced faster growth in total factor productivity than countries with high trade barriers. In the second part the recent Latin American experiences with trade liberalization reforms are investigated. It is shown that in the last few years the Latin American countries have gone from having one of the most distorted external sectors, to having very low degrees of protectionism. The extent of the liberalization efforts is documented and the effect on productivity and exports is investigated.
Author :
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 22 pages
Book Rating : 4./5 ( download)
Download or read book Trade Reforn, Efficiency and Growth written by and published by World Bank Publications. This book was released on with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Shantayanan Devarajan
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 58 pages
Book Rating : 4./5 ( download)
Download or read book Quantifying the Fiscal Effects of Trade Reform written by Shantayanan Devarajan and published by World Bank Publications. This book was released on 1999 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: A general equilibrium tax model estimated for 60 countries provides a simple but rigorous method for estimating the fiscal impact of trade reform.
Author : W. Max Corden
Publisher : University of Chicago Press
ISBN 13 : 0226115917
Total Pages : 335 pages
Book Rating : 4.2/5 (261 download)
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.
Author : Robert A. Amano
Publisher :
ISBN 13 :
Total Pages : 52 pages
Book Rating : 4.3/5 ( download)
Download or read book Terms of Trade and Real Exchange Rates written by Robert A. Amano and published by . This book was released on 1993 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mr.Luis Catão
Publisher : International Monetary Fund
ISBN 13 : 1484397878
Total Pages : 48 pages
Book Rating : 4.4/5 (843 download)
Download or read book World Food Prices, the Terms of Trade-Real Exchange Rate Nexus, and Monetary Policy written by Mr.Luis Catão and published by International Monetary Fund. This book was released on 2013-05-17 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: How should monetary policy respond to large fluctuations in world food prices? We study this question in an open economy model in which imported food has a larger weight in domestic consumption than abroad and international risk sharing can be imperfect. A key novelty is that the real exchange rate and the terms of trade can move in opposite directions in response to world food price shocks. This exacerbates the policy trade-off between stabilizing output prices vis a vis the real exchange rate, to an extent that depends on risk sharing and the price elasticity of exports. Under perfect risk sharing, targeting the headline CPI welfare-dominates targeting the PPI if the variance of food price shocks is not too small and the export price elasticity is realistically high. In such a case, however, targeting forecast CPI is a superior choice. With incomplete risk sharing, PPI targeting is clearly a winner.
Author : Mr.Plamen K Iossifov
Publisher : International Monetary Fund
ISBN 13 : 1498322824
Total Pages : 38 pages
Book Rating : 4.4/5 (983 download)
Download or read book Real Effective Exchange Rate and Trade Balance Adjustment: The Case of Turkey written by Mr.Plamen K Iossifov and published by International Monetary Fund. This book was released on 2019-06-28 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: There is an ongoing debate in the literature on whether global trade flows have become disconnected from the large real effective exchange rate movements in the wake of the global financial crisis. The question has important policy implications for the role of exchange rates in supporting growth and restoring external balance. In this paper, we use Turkey---a large and open emerging market economy that has experienced sizable swings of the real effective exchange rate---as a case study to test competing hypotheses. Our results lend support to the finding in existing cross-country studies that the real effective exchange rate remains an important determinant of trade flows. But, its effect is not symmetric in secular periods of appreciation and depreciation and is, oftentimes, dwarfed by the impact on trade flows of the income growth differential between trade partners.
Author : Mr.Santanu Chatterjee
Publisher : International Monetary Fund
ISBN 13 : 1463945647
Total Pages : 40 pages
Book Rating : 4.4/5 (639 download)
Download or read book Fiscal Policy and the Real Exchange Rate written by Mr.Santanu Chatterjee and published by International Monetary Fund. This book was released on 2012-02-01 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: Government spending on infrastructure has recently increased sharply in many emerging-market economies. This paper examines the mechanism through which public infrastructure spending affects the dynamics of the real exchange rate. Using a two-sector dependent open economy model with intersectoral adjustment costs, we show that government spending generates a non-monotonic U-shaped adjustment path for the real exchange rate with sharp intertemporal trade-offs. The effect of government spending on the real exchange rate depends critically on (i) the composition of public spending, (ii) the underlying financing policy, (iii) the intensity of private capital in production, and (iv) the relative productivity of public infrastructure. In deriving these results, the model also identifies conditions under which the predictions of the neoclassical open economy model can be reconciled with empirical regularities, namely the intertemporal relationship between government spending, private consumption, and the real exchange rate.
