4 edition of Exchange rate regimes and the extensive margin of trade found in the catalog.
Exchange rate regimes and the extensive margin of trade
Paul R. Bergin
|Statement||Paul R. Bergin, Ching-Yi Lin.|
|Series||NBER working paper series -- working paper 14126, Working paper series (National Bureau of Economic Research : Online) -- working paper no. 14126.|
|Contributions||Lin, Ching-Yi., National Bureau of Economic Research.|
|The Physical Object|
|LC Control Number||2008610948|
Using a panel VARX model, it traces the mean responses of output, terms of trade, extensive and intensive margins to real and nominal shocks in 22 developed economies over the period – It finds remarkable differences in the transmission of shocks depending on the exchange rate by: 1. exchange rate regimes in three economic integration areas (member countries of the European Un the Southern Common Market, and the Association of Southeast Asian Nations) on financial stability. Our results generally support the central banks’ concerns that the flexibility of exchange rate regimes should be reduced in order.
International Trade and Exchange Rate International trade volume data indicates developing countries play a bigger role in holding back trade growth, while developed countries show quite robust import growth. From a longer-term perspective, however, global trade volume has not deviated much from its long-term trend. Postglobal financial crisis,Cited by: 2. PART II: EXCHANGE RATES AND THE ADVENT OF EMU Real Variables, Nonlinearity and European Real Exchange Rates. Mark P. Taylor and Hyeyoen Kim. Exchange Rate Regimes and the Extensive Margin of Trade. Paul R. Bergin and Ching-Yi Lin PART III: REGULATORY INTERVENTIONS REGARDING EMPLOYMENT OR PRODUCTIVITY.
Shambaugh’s () book Exchange Rate Regimes in the Modern Era, and then proceed to provide an alternative overview of what the economics professions knows and needs to know about exchange rate regimes. While a fixed exchange rate with capital mobility is a well‐. Naknoi, Kanda. Real exchange rate fluctuations, endogenous tradability and exchange rate regimes. Journal of Monetary Economics – [Google Scholar] Naknoi, Kanda. Exchange rate volatility and fluctuations in the extensive margin of trade. Journal of Economic Dynamics and Control – [Google Scholar]Author: Stefano D’Addona, Lilia Cavallari.
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Exchange Rate Regimes and the Extensive Margin of Trade Paul R. Bergin, Ching-Yi Lin. Chapter in NBER book NBER International Seminar on Macroeconomics (), Jeffrey Frankel and Christopher Pissarides, organizers (p. - ) Conference held JunePublished in April by University of Chicago PressCited by: Comment on "Exchange Rate Regimes and the Extensive Margin of Trade" Stephen Redding.
Chapter in NBER book NBER International Seminar on Macroeconomics (), Jeffrey Frankel and Christopher Pissarides, organizers (p. - ) Conference held JunePublished in April by University of Chicago Press.
Downloadable. This paper finds that currency unions and direct exchange rate pegs raise trade through distinct channels. Panel data analysis of the period indicates that currency unions have raised trade predominantly at the extensive margin, the entry of new firms or products.
In contrast, direct pegs have worked almost entirely at the intensive margin. Get this from a library. Exchange rate regimes and the extensive margin of trade. [Paul R Bergin; Ching-Yi Lin; National Bureau of Economic Research.] -- This paper finds that currency unions and direct exchange rate pegs raise trade through distinct channels.
Panel data analysis of the period indicates that currency unions have raised trade. Stephen Redding, "Comment on "Exchange Rate Regimes and the Extensive Margin of Trade"," NBER Chapters, in: NBER International Seminar on MacroeconomicspagesNational Bureau of Economic Research, Inc.
Handle: RePEc:nbr:nberch Extensive and intensive margins and the choice of exchange rate regimes Hamano Picard P.M.z July Abstract This paper studies how the choice of xed or exible exchange rate regimes is a ected by the existence of intensive and extensive margins.
Using a contemporaneous entry model, only extensive margins vary under xed exchange rate. responses of output, terms of trade, extensive and intensive margins to real and nominal shocks in 22 developed economies over the period We ﬁnd remarkable diﬀerences in the transmission of shocks across exchange rate regimes.
First, external shocks aﬀect trade ﬂows mainly along the extensive margin in ﬁxed regimes. Atish R. Ghosh is the Historian of the International Monetary is coauthor (with Holger C. Wolf and Anne-Marie Gulde) of Exchange Rate Regimes: Choice and Consequences (MIT Press, ).
Anne-Marie Gulde is Assistant Director of the Policy Wing of the African Department at the International Monetary by: An empirical study of exchange rate regimes based on data compiled from member countries of the International Monetary Fund over the past thirty years.
Few topics in international economics are as controversial as the choice of an exchange rate regime. Since the breakdown of the Bretton Woods system in the early s, countries have adopted a wide variety of. 5 The Evolution of Exchange Rate Regimes and Some Future Perspectives Introduction, A Brief History of Currency Regimes, Performance of the Laisser-Faire Exchange Rate System, –, Market Discipline, Economic Policy Coordination, trade responses to exchange rate shocks, our article adds to the existing literature by highlighting the role of the extensive margin in shaping trade patterns (e.g.
Chaney ; Arkolakis ; Eaton et al. Book Review of The Development and Testing of Heckscher-Ohlin Trade Models, by Robert E. Baldwin, MIT Press, Economica, forthcoming, [PDF] Discussion of "Exchange Rate Regimes and the Extensive Margin of Trade," by Paul R.
Bergin and Ching-Yi Lin, in Jeffrey Frankel and Christopher Pissarides (eds.), CEPR-NBER International Seminar on. debate on exchange rate regimes, since the stabilization properties of a given regime may be aﬀected by the extent to which trade adjusts at the extensive or at the intensive margin.
We ﬁnd that large movements at the extensive margin in the aftermath of shocks are associated with a weaker performance in terms of output stabilization. This book describes and evaluates the literature on exchange rate economics.
It provides a wide-ranging survey, with background on the history of international monetary regimes and the institutional characteristics of foreign exchange markets, an overview of the development of conceptual and empirical models of exchange rate behavior, and perspectives on the key.
Exchange Rate Regimes and Economic Performance With all this in mind, in this paper we revisit the inflation-growth trade-off, using an extensive database that includes countries and covers the post–Bretton exchange rate regimes and.
The Effect of a Common Currency on the Volatility of the Extensive Margin of Trade Article in Journal of International Money and Finance 31(5)– September with 52 Reads.
Exchange Rate and s the Extensive Margin of Exports Daria Taglioni (World Bank)1 March The relationship between the level of a currency and trade is multi-faceted and complex. Reflecting this complexity, empirical tests yield mixed findings and imply that the nature of the impact of a change in the level of the exchange rate on.
In an outstanding account of exchange rates inthe international monetary system, W. Max Corden considers the essential issues in international author takes as his model the macroeconomic situation of a country with an open economy, and explains the effects of domestic fiscal and monetary macroeconomic policy on exchange rates.
With the outbreak of the two World Wars in andstable exchange rate regimes had gone completely haywire. The Bretton Woods system was established in and lasted for around two decades. Table "Exchange Rate Regimes" shows the selected set of countries followed by a currency regime.
Notice that many currencies—including the U.S. dollar, the Japanese yen, the Brazilian real, the South Korean won, and the South African rand—are independently floating, meaning that their exchange values are determined in the private market on the basis of supply and demand.
Other studies have argued that trade grows mostly along the extensive margin in fixed regimes, because the absence of exchange rate risk reduces the sunk costs of first-time entry in foreign markets and provides a strong incentive to invest in new trade relations (Bergin and Lin, ).
A novel contribution of our analysis is to clarify that Cited by: 2.55 W. Monroe Street, SuiteChicago, IL USA toll free: phone: +Keywords: exchange rate, import, extensive margin, intensive margin, processing trade, exchange rate regimes, pass-through JEL code: F14, F31 Approaches to Fostering Productivity Growth in Brazil, China and India, with Manmohan Agarwal and J ohn Whalley.