Rahman, Mizanur and Kalirajan, Kaliappa (2008): The effect of a collective exchange rate adjustment on East Asian exports.
Download (99Kb) | Preview
This paper estimates long-run effects of a collective exchange rate adjustment on multilateral exports from China, Japan, South Korea, and Taiwan. The findings show that a 1 percent generalized appreciation of all East Asian exchange rates would reduce East Asian exports by about 3 percent.
|Item Type:||MPRA Paper|
|Original Title:||The effect of a collective exchange rate adjustment on East Asian exports|
|Keywords:||Global imbalance; exchange rate appreciation; collective adjustment; production networks; East Asia|
|Subjects:||F - International Economics > F4 - Macroeconomic Aspects of International Trade and Finance > F42 - International Policy Coordination and Transmission
F - International Economics > F3 - International Finance > F32 - Current Account Adjustment; Short-Term Capital Movements
F - International Economics > F1 - Trade > F12 - Models of Trade with Imperfect Competition and Scale Economies
F - International Economics > F1 - Trade > F14 - Empirical Studies of Trade
C - Mathematical and Quantitative Methods > C3 - Multiple or Simultaneous Equation Models; Multiple Variables > C33 - Models with Panel Data; Longitudinal Data; Spatial Time Series
|Depositing User:||Mizanur Rahman|
|Date Deposited:||11. Mar 2009 02:20|
|Last Modified:||11. Feb 2013 18:36|
Arellano, M., Bond, S.R., 1991. Some tests of specification for panel data: Monte Carlo evidence and an application to employment equations. Review of Economic Studies 58(2), 277-297.
Blundell, R.W., Bond, S. R., 1998. Initial conditions and moment restrictions in dynamic panel data models. Journal of Econometrics 87(1), 115-143.
Cushman, D. O., 1987. U.S. bilateral trade balance and the dollar. Economic Letters 24, 363-367.
Greenspan, A., 2005. China, Testimony before the U.S. Senate Committee on Finance, 23 June 2005. The Federal Reserve Board, Washington, DC.
Kawai, M., 2007. Towards an exchange rate regime in East Asia. Tokyo: ADBI. Available: http://www.adbi.org/discussion-paper/2007/06/13/2281.exchange.rates.east.asia/
Lau, L., Stiglitz, J., 2005. China’s alternative to revaluation. The Financial Times, 04/25/ 2005.
Nickell, S., 1981. Biases in dynamic models with fixed effects. Econometrica 49, 1417-1426.
Rahman, M., Thorbecke, W. H., 2007. How would China’s exports be affected by a unilateral appreciation of the RMB and a joint appreciation of countries supplying intermediate imports? RIETI Discussion Paper No. 07-E-012.
Rose, A. K., Yellen, J. L., 1989. Is there a J-curve? Journal of Monetary Economics 24, 53-68.