Exchange Rate Volatility Pricing To Market And Trade Smoothing
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Author | : Mr.Peter B. Clark |
Publisher | : International Monetary Fund |
Total Pages | : 40 |
Release | : 1997-10-01 |
Genre | : Business & Economics |
ISBN | : 1451936621 |
Download Exchange Rate Volatility, Pricing to Market and Trade Smoothing Book in PDF, Epub and Kindle
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.
Author | : Takatoshi Ito |
Publisher | : University of Chicago Press |
Total Pages | : 346 |
Release | : 2011-03 |
Genre | : Business & Economics |
ISBN | : 0226386899 |
Download Commodity Prices and Markets Book in PDF, Epub and Kindle
Fluctuations of commodity prices, most notably of oil, capture considerable attention and have been tied to important economic effects. This book advances our understanding of the consequences of these fluctuations, providing both general analysis and a particular focus on the countries of the Pacific Rim.
Author | : Bart G. Turtelboom |
Publisher | : |
Total Pages | : 0 |
Release | : 1995 |
Genre | : |
ISBN | : |
Download Consumption Smoothing and Exchange Rate Volatility Book in PDF, Epub and Kindle
Author | : Bernhard Herz |
Publisher | : |
Total Pages | : 37 |
Release | : 2007 |
Genre | : |
ISBN | : |
Download Technical Trading and the Volatility of Exchange Rates Book in PDF, Epub and Kindle
The microeconomic structure of foreign exchange markets can cause excessive volatility in flexible exchange rate regimes. The market entry of chartists changes the composition of the foreign exchange market and leads to excessive volatility. Our chartist model predicts a continuum of equilibria and an U-shaped relation between exchange rate volatility and the measured trend, which is supported by the empirical evidence. The data show a positive nonlinear relation between trend and volatility, as predicted by the model. In such a situation monetary policy may be able to smooth the exchange rate without changing macroeconomic fundamentals.
Author | : Mr.Lorenzo Giorgianni |
Publisher | : International Monetary Fund |
Total Pages | : 21 |
Release | : 1999-05-01 |
Genre | : Business & Economics |
ISBN | : 1451849222 |
Download Excess Volatility and the Asset-Pricing Exchange Rate Model with Unobservable Fundamentals Book in PDF, Epub and Kindle
This paper presents a method to test the volatility predictions of the textbook asset-pricing exchange rate model, which imposes minimal structure on the data and does not commit to a choice of exchange rate “fundamentals.” Our method builds on existing tests of excess volatility in asset prices, combining them with a procedure that extracts unobservable fundamentals from survey-based exchange rate expectations. We apply our method to data for the three major exchange rates since 1984 and find broad evidence of excess exchange rate volatility with respect to the predictions of the canonical asset-pricing model in an efficient market.
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 | : Banco de Pagos Internacionales (Basilea, Suiza). Departamento Monetario y Económico |
Publisher | : |
Total Pages | : 0 |
Release | : 2013 |
Genre | : Banks and banking, Central |
ISBN | : 9789291319626 |
Download Market Volatility and Foreign Exchange Intervention in EMEs Book in PDF, Epub and Kindle
Author | : Mr.Thomas Helbling |
Publisher | : International Monetary Fund |
Total Pages | : 44 |
Release | : 1995-12 |
Genre | : Business & Economics |
ISBN | : |
Download Real Interest Rates, Real Exchange Rates, and Net Foreign Assets in the Adjustment Process Book in PDF, Epub and Kindle
This paper analyzes the recent behavior of real exchange rates, the trade balance and the net foreign asset position of the United States in an intertemporal optimizing model of the world economy that incorporates heterogeneity across countries and imperfect international capital and good markets. While the model successfully tracks the dynamics of trade balances and net foreign assets it generates too much consumption smoothing and excessively volatile relative prices. Resolving these inadequacies simultaneously is difficult as the elasticity of substitution between tradables and nontradables affects in opposite ways the degree of consumption smoothing and the volatility of relative prices.
Author | : Piet Sercu |
Publisher | : Cambridge University Press |
Total Pages | : 176 |
Release | : 2000-06-19 |
Genre | : Business & Economics |
ISBN | : 0521562945 |
Download Exchange Rate Volatility, Trade, and Capital Flows Under Alternative Exchange Rate Regimes Book in PDF, Epub and Kindle
Sercu and Uppal examine volatility of exchange rates in the context of dynamic general equilibrium models.
Author | : Bart TURTELBOOM |
Publisher | : |
Total Pages | : |
Release | : 1995 |
Genre | : |
ISBN | : |
Download COMSUMPTION SMOOTHING AND EXCHANGE RATE VOLATILITY Book in PDF, Epub and Kindle