Download or read book Exchange Rate Volatility and Bilateral Agricultural Trade Flows written by Kashi Kafle and published by LAP Lambert Academic Publishing. This book was released on 2012-04 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study documents the effect of exchange rate volatility and the real exchange rate on bilateral agricultural exports, imports and total trade (exports + imports) flows between the United States and OECD countries. The effect of exchange rate volatility is estimated both separately from and in combination with the real exchange rate. In addition, effects of implementation of Free Trade Agreements (FTAs) and use of the Euro as a national currency (Euro) are also estimated. With an empirical model based on a gravity equation, the results show that exchange rate volatility and the real exchange rate have a statistically significant and negative effect on agricultural, non-agricultural and total exports, imports, and trade (exports +imports) flows. Exchange rate volatility is found to have a greater impact on the agricultural sector, while the real exchange rate has a greater impact on the non-agricultural sector. Effects of FTAs and the Euro are always positive, with FTAs having a greater impact on the agricultural sector and the Euro on the non-agricultural sector.
Download or read book Exchange Rate Volatility and International Agricultural Trade written by Suchada Vichitakul Langley and published by Captus Press. This book was released on 2002 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book U S Soybean Trade and Exchange Rate Volatility written by Margot Anderson and published by . This book was released on 1988 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Consortium on Trade Research written by and published by . This book was released on 1981 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Exchange Rate Uncertainty and Agricultural Trade written by Guedae Cho and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using a sample of bilateral trade flows across ten developed countries between 1974 and 1995, this article explores the effect of exchange rate uncertainty on the growth of agricultural trade as compared to other sectors. Based on a gravity model that controls for other factors likely to determine bilateral trade, the results show that real exchange rate uncertainty has had a significant negative effect on agricultural trade over this period. Moreover, the negative impact of uncertainty on agricultural trade has been more significant compared to other sectors.
Download or read book Econometric Analysis of European Food and Agricultural Trade in a Liberalized and Integrating Global Economy written by Heiko Dreyer and published by Cuvillier Verlag. This book was released on 2017-03-02 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt: As indicated by the high level of food prices and volatility thereof, the international food and agricultural trade has been characterized by increasing uncertainty in recent years. Macroeconomic fluctuations seem to affect food and agricultural markets more strongly than in the past. The liberalization of agricultural policy, especially in industrialized countries, and the integration of world markets expose actors on domestic as well as on foreign markets to increased exchange rate and price fluctuations. This book investigates the determinants of food and agricultural trade flows of European countries using various econometric approaches. Where each of the chapters focuses on a particular issue, the overall topic of the first part of this book is to identify by what means the trend towards general liberalization and especially European integration has affected the amount of bilateral trade. Moreover, in the second part the book investigates the strategic pricing behavior of European producers in a liberalized global economy and elaborates how this behavior effects trade flows.
Download or read book The Effects of Exchange Rate Volatility on Agricultural Trade written by Ivan T. Kandilov and published by . This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: I extend Cho, Sheldon, and McCorriston's (2002) analysis of the effect of exchange rate volatility on agricultural trade among the G-10 countries to a broad sample of developed and developing nations. I replicate their original finding that exchange rate volatility has a large negative impact on agricultural trade between G-10 members. After controlling for agricultural export subsidies, which are correlated with exchange rate volatility, I show that the original impact declines by half. Using the extended sample, I find that the effect of exchange rate volatility is much larger for developing country exporters than for developed exporters.
Download or read book Exchange Rate Effects on Bilateral Agricultural Trade Analysis on the DR CAFTA written by Jennifer Eileen Bocock and published by . This book was released on 2006 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Impact of Exchange Rate Uncertainty on Trade Flows written by Mohsen Bahmani-Oskooee and published by . This book was released on 2008 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Previous studies that investigated the impact of exchange rate volatility on the trade flows employed aggregate trade data and standard estimation techniques. They provided mixed results. In this paper we use disaggregated import and export data for 177 commodities traded between the United States and the United Kingdom to investigate whether volatility of the real bilateral dollar/pound exchange rate has any detrimental effect on trade flows at the commodity level. Additionally, we employ the bounds testing approach to cointegration and error-correction modelling that is suitable for the models used mostly because it does not require pre-unit-root testing and variables in the model could be stationary, non-stationary or a combination of the two. In most trade flow models estimated, we found a negative effect of exchange rate volatility on commodity trade.
Download or read book A New Look at Exchange Rate Volatility and Trade Flows written by Peter Barton Clark and published by Occasional Papers. This book was released on 2004 with total page 63 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Exchange Rate Volatility and Spanish American Commodity Trade Flows written by Mohsen Bahmani-Oskooee and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: A number of recent studies have tested the impact of exchange rate volatility on trade flows, particularly for individual commodities, for various country pairs. These have found that risk can increase as well as decrease trade, but that oftentimes industries are not affected. This study examines trade between the United States and Spain over the period from 1962 to 2009, for 131 U.S. export industries and 88 import industries. We find that exchange rate volatility has short-run and long-run effects in only a fraction of the cases, but that exports respond more to increased uncertainty than imports do. In all, only 35 of the 74 U.S. export industries are affected (11 positive, 24 negative), whilst only three out of 37 import industries have positive coefficients and 11 have negative ones. We find no evidence that durable or nondurable goods are more likely to respond to volatility, whilst small industries or specialized goods might show more of a positive response.
Download or read book Exchange Rate Regimes Real Exchange Rate Volatility and Bilateral Trade Flows written by Spyridon G. Zarkos and published by . This book was released on 1994 with total page 380 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Exchange Rate Regimes Real Exchange Rate Volatility and Bilateral Trade Flows written by Spyridon George Zarkos and published by . This book was released on 1998 with total page 191 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Menu Costs Trade Flows and Exchange Rate Volatility written by Logan T. Lewis and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Effects of Exchange Rate Volatility on International Trade Flows written by Elif Nuroglu and published by . This book was released on 2013 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: The aim of this paper is to analyze the effects of exchange rate volatility on international trade flows by using two different approaches, the panel data analysis and fuzzy logic, and to compare the results. To a panel with the crosssection dimension of 91 pairs of EU15 countries and with time ranging from 1964 to 2003, an extended gravity model of trade is applied in order to determine the effects of exchange rate volatility on bilateral trade flows of EU15 countries. The estimated impact is clearly negative, which indicates that exchange rate volatility has a negative influence on bilateral trade flows. Then, this traditional panel approach is contrasted with an alternative investigation based on fuzzy logic. The key elements of the fuzzy approach are to set fuzzy decision rules and to assign membership functions to the fuzzy sets intuitively based on experience. Both approaches yield very similar results and fuzzy approach is recommended to be used as a complement to statistical methods.
Download or read book Does Third country Exchange Rate Affect Bilateral Trade written by Yonghai Li and published by . This book was released on 2003 with total page 278 pages. Available in PDF, EPUB and Kindle. Book excerpt: As the real and nominal exchange rates have become more volatile since the early 1970s, the study of the effect of exchange rate on trade flows has come into sharp focus. While conventional effects of depreciation or appreciation of exchange rates on trade flows have been accepted and verified by most economists, the impact of exchange rate volatility remains unresolved. An important puzzle is the absence of empirical support of the hypothesis that exchange rate volatility will have large and negative effects on both bilateral and multilateral trade. However, these studies may have ignored two relevant effects in the modeling and empirical applications: third-country effects and the presence of forward currency markets. This thesis identifies the exchange rate effects on bilateral trade while accounting for third-country effects and forward currency markets. The theoretical analysis suggests that in a bilateral trade model without a forward market, the exchange rate volatility effect on trade flows is negative. However, with a fully developed forward market, volatility of direct real exchange rate should have opposite impacts on importers and exporters. Moreover, trade diversion could occur due to changes in the level or volatility of the real exchange rate in a third currency. The empirical analysis included 10 developed and 10 developing countries. For the developed countries, quarterly data during the 1973 - 1998 period is used to analyze the exchange rate effects on bilateral trade flows among them. For the developing countries, their bilateral trade flows with 10 developed countries are investigated. The results show evidence of third country exchange rate effects on the bilateral trade flows, but they depend crucially on the relative levels and volatility of direct and third-country real exchange rate.
Download or read book IMF Staff papers written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 1988-01-01 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
