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Asymmetric Effects Of Exchange Rate Changes And The J Curve
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Book Synopsis Asymmetric Effects of Exchange Rate Changes And The J-Curve by : Mohsen Bahmani-Oskooee
Download or read book Asymmetric Effects of Exchange Rate Changes And The J-Curve written by Mohsen Bahmani-Oskooee and published by . This book was released on 2017 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Research on the impact of currency depreciation on the trade balance is now moving in a new direction by incorporating nonlinear dynamic adjustment of the exchange rate and by using a nonlinear approach to error-correction modeling and cointegration. Using these advances, researchers find not only more evidence of the J-curve effect, but also new evidence of asymmetric effects of exchange rate changes on the trade balance. We contribute to this line of research by using monthly trade flow data from 61 two-digit industries that trade between Malaysia and Thailand, and show that not only does currency depreciation have favorable effects on the trade balance of more industries, but the long-run effects are asymmetric in 26 out of 61 cases. In line with current literature, our nonlinear model performs much better than the linear model when industry level data are used.
Book Synopsis The Asymmetric Effects of Exchange Rate Fluctuations by : Magda Kandil
Download or read book The Asymmetric Effects of Exchange Rate Fluctuations written by Magda Kandil and published by International Monetary Fund. This book was released on 2000 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Asymmetric Response of the US-India Trade Balance to Exchange Rate Changes by : Mohsen Bahmani-Oskooee
Download or read book Asymmetric Response of the US-India Trade Balance to Exchange Rate Changes written by Mohsen Bahmani-Oskooee and published by . This book was released on 2017 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The relationship between the trade balance and the exchange rate continues to attract attention by international economists and has entered into new territory, mostly due to advances in econometric methods. The introduction of asymmetric error-correction modelling and asymmetric cointegration using the nonlinear ARDL approach of Shin et al. (Festschrift in Honor of Peter Schmidt: Econometric methods and applications, Springer, 2014, 281) as compared to the symmetric and linear ARDL approach of Pesaran et al. (Journal of Applied Econometrics, 2001, 16, 289) has led us in a new direction to discover relatively better results. We apply these methods to the bilateral trade balance model of each of the 68 industries that trade between India and the USA. The nonlinear approach not only provides more support to the J-curve effect, but also yields support in favour of short-run and long-run asymmetric effects of exchange rate changes in most of the industries.
Book Synopsis Expectations and the Adjustment of Trade Flows Under Floating Exchange-rates by : John F. Wilson
Download or read book Expectations and the Adjustment of Trade Flows Under Floating Exchange-rates written by John F. Wilson and published by . This book was released on 1980 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis An Asymmetric Analysis of the J-Curve Effect in the Commodity Trade Between China and the US. by : Mohsen Bahmani-Oskooee
Download or read book An Asymmetric Analysis of the J-Curve Effect in the Commodity Trade Between China and the US. written by Mohsen Bahmani-Oskooee and published by . This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper follows a non-linear ARDL error-correction approach to examine the presence of the J-curve in the commodity-level trade between the United States and China. The analysis disaggregates the US-China trade flows by commodities and separately examines the trade balance responses of 97 commodities to the changes in the real yuan-US$ exchange rates. The analysis at the commodity level alleviates potential aggregation bias that is present in earlier studies offering little evidence for long-run asymmetric effects of exchange rate on the China-US trade balance. We find strong support for short-run asymmetric effects in the case of two-third of the commodities, whereas significant long-run asymmetric effects are present in the case of one-third of the commodities including those commodities which command large shares in the China-US trade.
Book Synopsis Effects of exchange rate changes on the Italian trade balance by : Antonucci
Download or read book Effects of exchange rate changes on the Italian trade balance written by Antonucci and published by . This book was released on 2004 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Managing the Macroeconomy by : Ramkishen S. Rajan
Download or read book Managing the Macroeconomy written by Ramkishen S. Rajan and published by Springer. This book was released on 2015-08-04 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: While offering many growth-enhancing opportunities, India's ever-increasing integration with the world economy has given rise to a host of new challenges in managing the economy. This book provides an up-to-date empirical assessment of some of India's crucial policy challenges pertaining to its monetary and external sector management.
Book Synopsis Festschrift in Honor of Peter Schmidt by : Robin C. Sickles
Download or read book Festschrift in Honor of Peter Schmidt written by Robin C. Sickles and published by Springer Science & Business Media. This book was released on 2014-03-15 with total page 417 pages. Available in PDF, EPUB and Kindle. Book excerpt: From the Introduction: This volume is dedicated to the remarkable career of Professor Peter Schmidt and the role he has played in mentoring us, his PhD students. Peter’s accomplishments are legendary among his students and the profession. Each of the papers in this Festschrift is a research work executed by a former PhD student of Peter’s, from his days at the University of North Carolina at Chapel Hill to his time at Michigan State University. Most of the papers were presented at The Conference in Honor of Peter Schmidt, June 30 - July 2, 2011. The conference was largely attended by his former students and one current student, who traveled from as far as Europe and Asia to honor Peter. This was a conference to celebrate Peter’s contribution to our contributions. By “our contributions” we mean the research papers that make up this Festschrift and the countless other publications by his students represented and not represented in this volume. Peter’s students may have their families to thank for much that is positive in their lives. However, if we think about it, our professional lives would not be the same without the lessons and the approaches to decision making that we learned from Peter. We spent our days together at Peter’s conference and the months since reminded of these aspects of our personalities and life goals that were enhanced, fostered, and nurtured by the very singular experiences we have had as Peter’s students. We recognized in 2011 that it was unlikely we would all be together again to celebrate such a wonderful moment in ours and Peter’s lives and pledged then to take full advantage of it. We did then, and we are now in the form of this volume.
Book Synopsis Nonlinear Autoregressive Distributed Lag Approach and Bilateral J-Curve by : Mohsen Bahmani-Oskooee
Download or read book Nonlinear Autoregressive Distributed Lag Approach and Bilateral J-Curve written by Mohsen Bahmani-Oskooee and published by . This book was released on 2017 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The J-curve studies related to India have mostly either used aggregate trade flows of India with the rest of the world or between India and its trading partners. They have all assumed exchange rate changes have symmetric effects on Indian trade balance. In this article, we use partial sum concept combined with the nonlinear autoregressive distributed lag approach of Shin et al. to show that indeed in some instances, there are evidences of asymmetry effects of currency depreciation. This new nonlinear approach provides more support for the J-curve than the previous linear approaches.
Book Synopsis A Nonlinear Approach to the U.S.-Australia Commodity Trade and the J-Curve by : Mohsen Bahmani-Oskooee
Download or read book A Nonlinear Approach to the U.S.-Australia Commodity Trade and the J-Curve written by Mohsen Bahmani-Oskooee and published by . This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The application of nonlinear models and asymmetric analysis have recently proven to yield results that are superior to those of the linear and symmetric analysis. However, the new approaches in testing the J-curve between Australia and the rest of the world or between Australia and her trading partners such as the United States did not yield any significant outcomes. Suspecting that those results suffer from aggregation bias, we apply new methods to the trade flows of 123 industries that trade between the United States and Australia and give evidence of an asymmetric J-curve in 28 industries. Furthermore, we find short-run asymmetric effects of exchange rate changes on the trade balance of almost all studies, short-run impact asymmetric effects in 27 industries and significant long-run asymmetric effects in 56 industries. Our findings are industry-specific.
Book Synopsis Exchange Rate Economics by : Ronald MacDonald
Download or read book Exchange Rate Economics written by Ronald MacDonald and published by Routledge. This book was released on 2005 with total page 334 pages. Available in PDF, EPUB and Kindle. Book excerpt: ''In summary, the book is valuable as a textbook both at the advanced undergraduate level and at the graduate level. It is also very useful for the economist who wants to be brought up-to-date on theoretical and empirical research on exchange rate behaviour.'' ""Journal of International Economics""
Book Synopsis Dominant Currency Paradigm: A New Model for Small Open Economies by : Camila Casas
Download or read book Dominant Currency Paradigm: A New Model for Small Open Economies written by Camila Casas and published by International Monetary Fund. This book was released on 2017-11-22 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most trade is invoiced in very few currencies. Despite this, the Mundell-Fleming benchmark and its variants focus on pricing in the producer’s currency or in local currency. We model instead a ‘dominant currency paradigm’ for small open economies characterized by three features: pricing in a dominant currency; pricing complementarities, and imported input use in production. Under this paradigm: (a) the terms-of-trade is stable; (b) dominant currency exchange rate pass-through into export and import prices is high regardless of destination or origin of goods; (c) exchange rate pass-through of non-dominant currencies is small; (d) expenditure switching occurs mostly via imports, driven by the dollar exchange rate while exports respond weakly, if at all; (e) strengthening of the dominant currency relative to non-dominant ones can negatively impact global trade; (f) optimal monetary policy targets deviations from the law of one price arising from dominant currency fluctuations, in addition to the inflation and output gap. Using data from Colombia we document strong support for the dominant currency paradigm.
Book Synopsis Currencies, Commodities and Consumption by : Kenneth W. Clements
Download or read book Currencies, Commodities and Consumption written by Kenneth W. Clements and published by Cambridge University Press. This book was released on 2013-01-31 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: Discusses economic issues associated with exchange rates, commodity prices, the economic size of countries and alternatives to PPP exchange rates.
Book Synopsis Irreversibility, Uncertainty, and Investment by : Robert S. Pindyck
Download or read book Irreversibility, Uncertainty, and Investment written by Robert S. Pindyck and published by World Bank Publications. This book was released on 1989 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: Irreversible investment is especially sensitive to such risk factors as volatile exchange rates and uncertainty about tariff structures and future cash flows. If the goal of macroeconomic policy is to stimulate investment, stability and credibility may be more important than tax incentives or interest rates.
Book Synopsis Advances in Innovation, Trade and Business by : Aswini Kumar Mishra
Download or read book Advances in Innovation, Trade and Business written by Aswini Kumar Mishra and published by Springer Nature. This book was released on 2021-03-22 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the process of liberalization and opening of markets in the 1990s, the emerging markets have created a thriving culture of entrepreneurship, creativity and global collaboration. Along with these opportunities, however, there are challenges in doing business with emerging markets. This book underlines the challenges that come with managing business relationships in diverse emerging countries such as India. It also provides useful implications and conclusions for successful and profitable business ventures in emerging economies.
Download or read book Kenya written by Gurushri Swamy and published by World Bank Publications. This book was released on 1994 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: Structural adjustment loans in Kenya have supported trade liberalization, exchange rate depreciation, and, to some extent, export development. But World Bank funds may have helped Kenya postpone critical reform of the civil service and social sectors and divestiture of parastatals.
Book Synopsis Analysis of Liberalization of the Trade and Exchange Regime in Kenya Since 1980 by : Bernard Mbui Wagacha
Download or read book Analysis of Liberalization of the Trade and Exchange Regime in Kenya Since 1980 written by Bernard Mbui Wagacha and published by . This book was released on 2000 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
