Trade Liberalization And Real Exchange Rate Movement
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| Author | : Ms.Xiangming Li |
| Publisher | : International Monetary Fund |
| Total Pages | : 39 |
| Release | : 2003-06-01 |
| Genre | : Business & Economics |
| ISBN | : 1451854749 |
Download Trade Liberalization and Real Exchange Rate Movement Book in PDF, Epub and Kindle
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.Mohsin S. Khan |
| Publisher | : International Monetary Fund |
| Total Pages | : 24 |
| Release | : 1991 |
| Genre | : Business & Economics |
| ISBN | : |
Download Response of the Equilibrium Real Exchange Rate to Real Disturbances in Developing Countries Book in PDF, Epub and Kindle
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.
| Author | : Ms.Rina Bhattacharya |
| Publisher | : INTERNATIONAL MONETARY FUND |
| Total Pages | : 34 |
| Release | : 2000-10-01 |
| Genre | : Business & Economics |
| ISBN | : 9781451858747 |
Download Trade and Domestic Financial Market Reform Under Political Uncertainty Book in PDF, Epub and Kindle
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 | : Eduardo Bitran |
| Publisher | : |
| Total Pages | : 119 |
| Release | : 1988 |
| Genre | : Foreign exchange |
| ISBN | : |
Download Aspects of Trade Liberalization and Exchange Rate Movements Book in PDF, Epub and Kindle
| Author | : Jorge Quiroz |
| Publisher | : |
| Total Pages | : 78 |
| Release | : 1994 |
| Genre | : Chile |
| ISBN | : |
Download Trade Reform and the Real Exchange Rate Book in PDF, Epub and Kindle
| Author | : International Monetary Fund |
| Publisher | : International Monetary Fund |
| Total Pages | : 132 |
| Release | : 2004-05-19 |
| Genre | : Business & Economics |
| ISBN | : 1498330282 |
Download Exchange Rate Volatility and Trade Flows--Some New Evidence Book in PDF, Epub and Kindle
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| Author | : Romain Wacziarg |
| Publisher | : Edward Elgar Publishing |
| Total Pages | : 0 |
| Release | : 2018 |
| Genre | : Free trade |
| ISBN | : 9781788111492 |
Download Trade Liberalization Book in PDF, Epub and Kindle
This compelling two-volume collection presents the major literary contributions to the economic analysis of the consequences of trade liberalization on growth, productivity, labor market outcomes and economic inequality. Examining the classical theories that stress gains from trade stemming from comparative advantage, the selection also comprises more recent theories of imperfect competition, where any potential gains from trade can stem from competitive effects or the international transmission of knowledge. Empirical contributions provide evidence regarding the explanatory power of these various theories, including work on the effects of trade openness on economic growth, wages, and income inequality, as well as evidence on the effects of trade on firm productivity, entry and exit. Prefaced by an original introduction from the editor, the collection will to be an invaluable research resource for academics, practitioners and those drawn to this fascinating topic.
| Author | : International Monetary Fund. Research Dept. |
| Publisher | : International Monetary Fund |
| Total Pages | : 228 |
| Release | : 1988-01-01 |
| Genre | : Business & Economics |
| ISBN | : 1451956770 |
Download IMF Staff papers Book in PDF, Epub and Kindle
A central proposition regarding effects of different mechanisms of fi-nancing public expenditures is that, under specific circumstances, it makes no difference to the level of aggregate demand if the government finances its outlays by debt or taxation. This so-called Ricardian equivalence states that, for a given expenditure path, substitution of debt for taxes does not affect private sector wealth and consumption. This paper provides a model illustrating the implications of Ricardian equivalence, surveys the litera-ture, considers effects of relaxing the basic assumptions, provides a frame-work to study implications of various extensions, and critically reviews recent empirical work on Ricardian equivalence.
| Author | : Sebastian Edwards |
| Publisher | : |
| Total Pages | : 42 |
| Release | : 1987 |
| Genre | : Commerce |
| ISBN | : |
Download Economic Liberalization and the Equilibrium Real Exchange Rate in Developing Countries Book in PDF, Epub and Kindle
| Author | : Jerome L. Stein |
| Publisher | : Physica |
| Total Pages | : 125 |
| Release | : 2012-12-06 |
| Genre | : Business & Economics |
| ISBN | : 3642592465 |
Download The Globalization of Markets Book in PDF, Epub and Kindle
The interrelated issues analyzed in this book are as follows. With the integration of Europe, there are free movements in goods, services, short and long term capital, and direct investment. The German mark is the key currency in Europe and its value will affect the equilibrium bilateral exchange rates of the other currencies in the European Union. It is important to examine the following issues. What have been the fundamental determinants of the real value of the mark since the period of floating? What will be the effects of German integration upon exchange rates? How can we measure whether currencies are misaligned or if exchange rates are at their equilibrium values? Are short term capital flows destabilizing and, if so, should they be discouraged through a transactions tax? Under what conditions does the formation of a regional trading bloc help or hinder the liberalization of world trade? What are the determinants of foreign direct investment made by multinational enterprises? There is a unity to this book. The authors are senior scholars who approach the subject from the theoretical, policy oriented and econometric points of view. Jerome L. Stein Contents JAMES TOBIN A Currency Transactions Tax. Why and How CHARLES A. GOODHART Discussant to Professor J. Tobin. . . . . . . . . . . . . . . . . . . . . . 7 JEROME L. STEIN and KARLHANS SAUERNHEIMER The Equilibrium Real Exchange Rate of Germany 13 PETER B. CLARK Concepts of Equilibrium Exchange Rates . . . . . . . . . . . . . . 49 G. C. LIM A Note on Estimating Dynamic Economic Models of the Real Exchange Rate. . . . . . . . . . . . . . . . . . . . . . . . . . .
