Incomplete Exchange Rate Pass-through and Hysteresis in Trade
Title | Incomplete Exchange Rate Pass-through and Hysteresis in Trade PDF eBook |
Author | Jukka Vesala |
Publisher | |
Pages | 86 |
Release | 1992 |
Genre | |
ISBN |
Inflation in Emerging and Developing Economies
Title | Inflation in Emerging and Developing Economies PDF eBook |
Author | Jongrim Ha |
Publisher | World Bank Publications |
Pages | 524 |
Release | 2019-02-24 |
Genre | Business & Economics |
ISBN | 1464813760 |
This is the first comprehensive study in the context of EMDEs that covers, in one consistent framework, the evolution and global and domestic drivers of inflation, the role of expectations, exchange rate pass-through and policy implications. In addition, the report analyzes inflation and monetary policy related challenges in LICs. The report documents three major findings: In First, EMDE disinflation over the past four decades was to a significant degree a result of favorable external developments, pointing to the risk of rising EMDE inflation if global inflation were to increase. In particular, the decline in EMDE inflation has been supported by broad-based global disinflation amid rapid international trade and financial integration and the disruption caused by the global financial crisis. While domestic factors continue to be the main drivers of short-term movements in EMDE inflation, the role of global factors has risen by one-half between the 1970s and the 2000s. On average, global shocks, especially oil price swings and global demand shocks have accounted for more than one-quarter of domestic inflation variatio--and more in countries with stronger global linkages and greater reliance on commodity imports. In LICs, global food and energy price shocks accounted for another 12 percent of core inflation variatio--half more than in advanced economies and one-fifth more than in non-LIC EMDEs. Second, inflation expectations continue to be less well-anchored in EMDEs than in advanced economies, although a move to inflation targeting and better fiscal frameworks has helped strengthen monetary policy credibility. Lower monetary policy credibility and exchange rate flexibility have also been associated with higher pass-through of exchange rate shocks into domestic inflation in the event of global shocks, which have accounted for half of EMDE exchange rate variation. Third, in part because of poorly anchored inflation expectations, the transmission of global commodity price shocks to domestic LIC inflation (combined with unintended consequences of other government policies) can have material implications for poverty: the global food price spikes in 2010-11 tipped roughly 8 million people into poverty.
Exchange Rate Economics
Title | Exchange Rate Economics PDF eBook |
Author | Ronald MacDonald |
Publisher | Routledge |
Pages | 334 |
Release | 2005 |
Genre | Foreign exchange |
ISBN | 1134838220 |
''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""
Modern Time Series Analysis in Forest Products Markets
Title | Modern Time Series Analysis in Forest Products Markets PDF eBook |
Author | Jens Abildtrup |
Publisher | Springer Science & Business Media |
Pages | 220 |
Release | 2012-12-06 |
Genre | Technology & Engineering |
ISBN | 9401147728 |
This volume comprises fifteen papers exploring the consequences of applying modern time-series methods, particularly co-integrated time-series methods, for the analysis of forest economics problems. The methods represent the forefront of econometrics in this area, and the volume is the first of its kind. An introductory paper explains the econometrics of unit-root processes. Much of what follows in the other papers depends upon only a few of the ideas presented in the introduction. The volume includes tests of, e.g., the Law of One Price, land valuation models, demand and supply models, Granger-causality, and forecast models. The reader will learn a great deal about forest economies, particularly in Northern Europe, and about the practical use of modern time-series methods. The methods presented are applicable to other fields of economics. The volume is aimed at researchers in applied economics and as a supplement to (advanced) theoretical textbooks, mainly in Natural Resource Economics.
The Exchange Rate, International Trade and the Balance of Payments
Title | The Exchange Rate, International Trade and the Balance of Payments PDF eBook |
Author | Reserve Bank of Australia. Economic Group |
Publisher | |
Pages | 338 |
Release | 1993 |
Genre | Business & Economics |
ISBN |
2014 International Conference on Social Science and and Environment Protection (SSEP2014)
Title | 2014 International Conference on Social Science and and Environment Protection (SSEP2014) PDF eBook |
Author | |
Publisher | DEStech Publications, Inc |
Pages | 1017 |
Release | 2014-02-11 |
Genre | Psychology |
ISBN | 1605951617 |
This conference promises to be both informative and stimulating with a wonderful program. Delegates will have a wide range of sessions to choose from and will have a difficult to choose which session to attend. The program consists of invited session, technical workshop and discussions covering a wide range of topics in social science including communication, culture, economics, education, finance, law, management, politics, psychology and society. This rich program provides all attendees with the opportunities to meet and interact with one another. We hope that your experience with SSEP2014 is a fruitful and long lasting one.
The Impact of Exchange Rate Fluctuations on U.S. Trade Competitiveness
Title | The Impact of Exchange Rate Fluctuations on U.S. Trade Competitiveness PDF eBook |
Author | Pao-Hwa Chan |
Publisher | Ann Arbor, Mich. : University Microfilms International |
Pages | 264 |
Release | 1996 |
Genre | Canada |
ISBN |
This study applies two different econometric methodologies to investigate the impact of exchange rate changes on the trade prices and quantities using the aggregated and industry level data of the United States, Canada, and Japan in order to compare the similarities and differences in countries as well as industries. The dynamic responses of these trade prices and quantities become very interesting and valuable for the further study of the effect of exchange rate changes, because the most important feature of this study is that the value of the U.S. dollar depreciates in terms of the Japanese yen but at the same time appreciates against the Canadian dollar. The actual impact of exchange rate changes is estimated by combining the main features of the markup specification and the effect of intermediate cost changes. In addition to the explicit recognition of the effects of markups and cost changes, the study includes the feedback effect of the partial adjustment mechanism in three-stage least squares to compare the findings of the vector autoregressions and to develop more reasonable implicit explanations. Moreover, the vector autoregressive technique particularly provides an adapted exploration of the dynamic inter-relationships among the exchange rate changes and trade prices as well as quantities to identify the role of exchange rate changes in output and price determination by analyzing variance decompositions and impulse responses. The results from these two different econometric methodologies present several similar meaningful findings. The findings suggest that the exporters and importers of the United States do not meet a very competitive situation with Canadian traders. By contrast, the findings indicate that the export and import industries of the United States encounter severer competition when they trade to and from Japan. In addition to measuring competitiveness, the results also illustrate that the responses of exchange rate changes between the short-run and the long-run are relatively small in the trade prices of the United States and Japan, suggesting that most price adjustments will be completed immediately, while the adjustments of import prices occur slower than has been expected between the United States and Canada. Furthermore, according to the impact elasticities of trade volume equations, the results suggest that a trade negotiation or a managed exchange rate policy might be an effective way to improve the trade deficits between the United States and Canada, while these policies might cause the trade deficits between the United States and Japan to deteriorate after dollar depreciation.