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| Author | : International Monetary Fund |
| Publisher | : International Monetary Fund |
| Total Pages | : 132 |
| Release | : 2004-05-19 |
| Genre | : Business & Economics |
| ISBN | : 1498330282 |
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| Author | : International Monetary Fund |
| Publisher | : International Monetary Fund |
| Total Pages | : 76 |
| Release | : 1984-07-08 |
| Genre | : Business & Economics |
| ISBN | : 9781557750655 |
In View of the continuation of substantial movements in exchange rate relationships among major currencies, the recent increase in protectionist pressures, and the disappointing performance of world trade, renewed concern has been expressed about the possible adverse effects of exchange rate variability on trade. Against the background of this concern, the following decision was reached at the ministerial meeting of the General Agreement of Tariffs and Trade (GATT) in November 1982.
| Author | : William C. Gruben |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 247 |
| Release | : 2012-12-06 |
| Genre | : Business & Economics |
| ISBN | : 1461561752 |
The dramatic growth of international capital flow has provided unprecedented opportunities and risks in emerging markets. This book is the result of a conference exploring this phenomenon, sponsored by the Federal Reserve Bank of Dallas. The issues explored include direct versus portfolio investment; exchange rates and economic growth; and optimal exchange rate policy for stabilizing inflation in developing countries. It concludes with a panel discussion on central bank coordination in the midst of exchange rate instability.
| Author | : Mr. Peter B. Clark |
| Publisher | : International Monetary Fund |
| Total Pages | : 72 |
| Release | : 2004-09-30 |
| Genre | : Business & Economics |
| ISBN | : 1452733872 |
The effect of exchange rate volatility on trade flows was examined by a 1984 IMF study on G-7 countries. Over the past two decades, many developments in the world economy, such as the currency crises in the 1990s and increasing cross-border capital flows, may have exacerbated exchange rate volatility, while others, such as a deepening of the market in foreign 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 developments and examining their effects on developing and transition economies, as well as on developed countries.
| Author | : Mr.Giovanni Dell'Ariccia |
| Publisher | : International Monetary Fund |
| Total Pages | : 28 |
| Release | : 1998-08-01 |
| Genre | : Business & Economics |
| ISBN | : 1451852959 |
This paper analyzes the effects of exchange rate volatility on bilateral trade flows. Through use of a gravity model and panel data from western Europe, exchange rate uncertainty is found to have a negative effect on international trade. The results seem to be robust with respect to the particular measures representing exchange rate uncertainty. Particular attention is reserved for problems of simultaneous causality. The negative correlation between trade and bilateral volatility remains significant after controlling for the simultaneity bias. However, a Hausman test rejects the hypothesis of the absence of simultaneous causality.
| Author | : International Monetary Fund |
| Publisher | : International Monetary Fund |
| Total Pages | : 24 |
| Release | : 1988-05-03 |
| Genre | : Business & Economics |
| ISBN | : 1451977700 |
Contrary to the arguments of several scholars, we have failed to find either a conclusive theoretical case or clear empirical evidence of an effect, harmful or otherwise, of exchange rate variability (as measured by either short-term volatility or long-run misalignment) on overall levels of international trade. In this paper, after reviewing the theories and evidence on this issue, we go on to consider the impact of exchange rate variability on direct foreign investment. We summarize and amplify upon the scant theoretical literature of this issue, and proceed to test U.S. data for the presence of such an impact. We find none.
| Author | : Suchada Vichitakul Langley |
| Publisher | : Captus Press |
| Total Pages | : 184 |
| Release | : 2002 |
| Genre | : Business & Economics |
| ISBN | : 9781553220435 |
| Author | : Jean-Marie Viaene |
| Publisher | : |
| Total Pages | : 58 |
| Release | : 1989 |
| Genre | : |
| ISBN | : |
| Author | : Logan T. Lewis |
| Publisher | : |
| Total Pages | : |
| Release | : 2014 |
| Genre | : |
| ISBN | : |
| Author | : Mr.Peter B. Clark |
| Publisher | : International Monetary Fund |
| Total Pages | : 40 |
| Release | : 1997-10-01 |
| Genre | : Business & Economics |
| ISBN | : 1451936621 |
This paper investigates the consequences of exchange rate volatility on the variability of export prices and quantities in the presence of market segmentation and pricing to market. Firms stabilize destination prices through systematic price discrimination, limiting the degree of exchange rate pass-through. Consequently, the variability of exchange rates is not fully translated into prices and quantities at the point of destination. Empirical estimates using aggregate price data for the G-7 industrial countries show incomplete pass-through in variances, with considerable variation among these countries. U.S. industry specific data also indicate incomplete pass-through in most cases, with considerable variation across industries.
