Back Matter

Back Matter

Author(s):
Peter Clark, Shang-Jin Wei, Natalia Tamirisa, Azim Sadikov, and Li Zeng
Published Date:
September 2004
    Share
    • ShareShare
    Show Summary Details
    References

      Alesina, Alberto and Robert J.Barro, 2000, “Currency Unions,” NBER Working Paper 7927 (Cambridge, Massachusetts: National Bureau of Economic Research).

      Alesina, Alberto and Robert J.Barro, and SilvanaTenreyro, 2002, “Optimal Currency Areas,” NBER Working Paper 9072 (Cambridge, Massachusetts: National Bureau of Economic Research).

      Andersen, Margot, and David A.Grier, 1992, “Robust, Non-Parametric Measures of Exchange Rate Variability,” Applied Economics, Vol. 24 (September), pp. 95158.

      Andersen, Torben, and others 2001, “The Distribution of Realized Exchange Rate Volatility,” Journal of the American Statistical Association, Vol. 96 (March), pp. 4255.

      Anderson, James E., 1979, “A Theoretical Foundation for the Gravity Equation,” American Economic Review, Vol. 69, No. 1, pp. 10616.

      Anderson, James E., and Ericvan Wincoop, 2003, “Gravity with Gravitas: A Solution to the Border Puzzle,” American Economic Review, Vol. 93(March),17092.

      Anderton, Robert, FraukeSkudelny, 2001, “Exchange Rate Volatility and Euro Area Imports,” ECB Working Paper No. 64 (Frankfurt: European Central Bank).

      Arize, Augustine C., 1998, “The Long-Run Relationship Between Import Flows and Real Exchange-Rate Volatility: the Experience of Eight European Economies,” International Review of Economics and Finance, Vol. 7, pp. 41735.

      Bacchetta, Philippe, and Ericvan Wincoop, 2000, “Does Exchange-Rate Stability Increase Trade and Welfare?American Economic Review, Vol. 90 (December), pp. 1093109.

      Bélanger, Denis, and others 1992, “Impact of Exchange Rate Variability on Trade Flows: Further Results on Sectoral U.S. Imports from Canada,” North American Journal of Economics and Finance, Vol. 3, pp. 6182.

      Bergin, Paul R., and IvanTchakarov, 2003, “Does Exchange Rate Risk Matter for Welfare?NBER Working Paper 9900 (Cambridge, Massachusetts: National Bureau of Economic Research).

      Bergstrand, Jeffrey H., 1985, “Gravity Equation in International Trade: Some Microeconomic Foundations and Empirical Evidence,” Review of Economics and Statistics, Vol. 67 (August), pp. 47481.

      Bini-Smaghi, Lorenzo, 1991, “Exchange Rate Variability and Trade: Why Is It So Difficult To Find Any Empirical Relationship?Applied Economics, Vol. 23 (May), pp. 92735.

      Bleaney, Michael, 1992, “Comparisons of Real Exchange Rate Volatility Across Exchange Rate Systems,” Oxford Bulletin of Economics and Statistics, Vol. 54 (November), pp. 55765.

      Bollerslev, TimRay Y.Chou, Kenneth F.Kroner, 1992, “ARCH Modeling in Finance: A Review of Theory and Empirical Evidence,” Journal of Econometrics, Vol. 52 (April–May), pp. 559.

      Broda, Christian, and JohnRomalis, 2003, “Identifying the Effect of Exchange Rate Volatility on Trade,” unpublished manuscript, Federal Reserve Bank of New York and Chicago Graduate School of Business.

      Brodsky, David A., 1984, “Fixed Versus Flexible Exchange Rates and the Measurement of Exchange Rate Instability,” Journal of International Economics, Vol. 16 (May), pp. 295306.

      Bubula, Andrea, and ÏnciÖtker-Robe, 2002, “The Evolution of Exchange Rate Regimes Since 1990: Evidence from De Facto Policies,” IMF Working Paper 02/155 (Washington: International Monetary Fund).

      Caballero, Ricardo J., VittorioCorbo, 1989, “The Effect of Real Exchange Rate Uncertainty on Exports: Empirical Evidence,” The World Bank Economic Review, Vol. 3 (Washington: World Bank), pp. 26378.

      Canzoneri, Matthew B., and others, 1984, “Effects of Exchange Rate Variability on Output and Employment,” International Finance Discussion Papers No. 240 (Washington: U.S. Board of Governors of the Federal Reserve System).

      Clark, Peter B., 1973, “Uncertainty, Exchange Risk, and the Level of International Trade,” Western Economic Journal, Vol. 11 (September), pp. 30213.

      Coe, David T., and others, 2002, “The Missing Globalization Puzzle,” IMF Working Paper 02/171 (Washington: International Monetary Fund).

      Côté, Agathe, 1994, “Exchange Rate Volatility and Trade,” Working Paper No. 94-5 (Ontario: Bank of Canada).

      Cushman, David O., 1983, “The Effects of Real Exchange Rate Risk on International Trade,” Journal of International Economics, Vol. 15 (August), pp. 4363.

      Cushman, David O., 1986, “Has Exchange Risk Depressed International Trade? The Impact of Third-Country Exchange Risk,” Journal of International Money and Finance, Vol. 5 (September), pp. 36179.

      Deardorff, Alan V., 1998, “Determinants of Bilateral Trade: Does Gravity Work in a Neoclassical World?in The Regionalization of the World Economy, ed. by J.Frankel (ed) (Chicago: University of Chicago Press), pp. 722.

      De Grauwe, Paul, 1987, “International Trade and Economic Growth in the European Monetary System,” European Economic Review, Vol. 31 (February–March), pp. 38998.

      De Grauwe, Paul, 1988, “Exchange Rate Variability and the Slowdown in the Growth of International Trade,” Staff Papers, International Monetary Fund, Vol. 35 (March), pp. 6384.

      De Grauwe, Paul, 1992, “The Benefits of a Common Currency,” The Economics of Monetary Integration (New York: Oxford University Press).

      De Grauwe, Paul, and Bernardde Bellefroid, 1987, “Long Run Exchange Rate Variability and International Trade,” in Real Financial Linkages Among Open Economies, ed. by S.Arndt and J. D.Richardson (ed)(London and Cambridge, Massachusetts: MIT Press).

      Dell’Ariccia, Giovanni, 1999, “Exchange Rate Fluctuations and Trade Flows: Evidence from the European Union,” Staff Papers, International Monetary Fund, Vol. 46 (September–December), pp. 31534.

      Devereux, Michael B., Philip R.Lane, 2003, “Understanding Bilateral Exchange Rate Volatility,” Journal of International Economics, Vol. 60 (May), pp. 10932.

      Dixit, A., 1989, “Entry and Exit Decisions Under Uncertainty,” Journal of Political Economy, Vol. 97 (June), pp. 62038.

      Edison, Hali J., and MichaelMelvin, 1990, “The Determinants and Implications of the Choice of an Exchange Rate System,” in Monetary Policy for a Volatile Global Economy, ed. by William S.Haraf and Thomas D.Willett (ed)(Washington: AEI Press).

      Ethier, Wilfred, 1973, “International Trade and the Forward Exchange Market,” American Economic Review, Vol. 63 (June), pp. 494503.

      Farrell, Victoria S., Dean A.DeRosa, and T. AshbyMcCown, 1983, “Effects of Exchange Rate Variability on International Trade and Other Economic Variables: A Review of the Literature,” Working Paper (Washington: U.S. Board of Governors of the Federal Reserve System).

      Feenstra, Robert C., Jon D.Kendall, 1991, “Exchange Rate Volatility and International Prices,” NBER Working Paper 3644 (Cambridge, Massachusetts: National Bureau of Economic Research).

      Flandreau, Marc, and MathildeMaurel, 2001, “Monetary Union, Trade Integration and Business Cycles in 19th Century Europe: Just Do It,” CEPR Discussion Paper No. 3087 (London: Centre For Economic Policy Research).

      Fountas, Stilianos, and KyriacosAristotelous, 1999, “Has the European Monetary System Led to More Exports? Evidence from Four European Union Countries,” Economic Letter, Vol. 62 (March), pp. 35763.

      Franke, Gunter, 1991, “Exchange Rate Volatility and International Trading Strategy,” Journal of International Money and Finance, Vol. 10 (June), pp. 292307.

      Frankel, Jeffrey A., and Andrew K.Rose, 1998, “The Endogeneity of the Optimum Currency Area Criteria,” Economic Journal, Vol. 108 (July), pp. 100925.

      Frankel, Jeffrey A., and Andrew K.Rose, and Andrew K.Rose, 2000, “Estimating the Effect of Currency Unions on Trade and Output,” NBER Working Paper 7857 (Cambridge, Massachusetts: National Bureau of Economic Research).

      Frankel, Jeffrey A., and Shang-JinWei, 1993, “Trade Blocs and Currency Blocs,” NBER Working Paper 4335 (Cambridge, Massachusetts: National Bureau of Economic Research).

      Glick, Reuven, and Andrew K.Rose, 2002, “Does a Currency Union Affect Trade? The Time Series Evidence,” European Economic Review, Vol. 46 (June), pp. 112551.

      Greene, William H., 2000, Econometric Analysis (Upper Saddle River, New Jersey: Prentice Hall).

      Gros, Daniel, 1987, “Exchange Rate Variability and Foreign Trade in the Presence of Adjustment Costs,” Working Paper No. 8704, Département des sciences économiques, Université Catholique de Louvain.

      Helpman, Elhanan, and PaulKrugman, 1985, Market Structure and Foreign Trade: Increasing Returns, Imperfect Competition and the International Economy (Cambridge, Massachusetts: MIT Press).

      Hodrick, Robert J., 1989, “Risk, Uncertainty, and Exchange Rates,” Journal of Monetary Economics, Vol. 23 (May), pp. 43359.

      Hooper, Peter, and StevenKohlhagen, 1978, “The Effect of Exchange Rate Uncertainty on the Prices and Volume of International Trade,” Journal of International Economics, Vol. 8 (November), pp. 483511.

      Hooper, Peter, and CatherineMann, 1987, “The U.S. External Deficit: Its Causes and Persistence,” Working Paper (Washington: Federal Reserve Board).

      International Monetary Fund, 1984, The Exchange Rate System: Lessons of the Past and Options for the Future, IMF Occasional Paper No. 30 (Washington).

      International Monetary Fund, and 2003a, World Economic Outlook, World Economic and Financial Surveys (Washington).

      International Monetary Fund, and 2003b, Exchange Arrangements and Foreign Exchange Markets: Developments and Issues, World Economic and Financial Surveys (Washington).

      Kawai, Masahiro, and IizhakZilcha, 1986, “International Trade with Forward-Futures Markets Under Exchange-Rate and Price Uncertainty,” Journal of International Economics, Vol. 20 (February), pp. 8398.

      Kenen, Peter, 2002, “Currency Unions and Trade: Variations on Themes by Rose and Persson,” Discussion Paper DP/2002/08 (Wellington: Reserve Bank of New Zealand).

      Kenen, Peter, and DaniRodrik, 1986, “Measuring and Analyzing the Effects of Short-Term Volatility on Real Exchange Rates,” Review of Economics and Statistics, Vol. 68 (May), pp. 31115.

      Koren, Miklos, and AdamSzeidl, 2003, “Exchange Rate Uncertainty and Export Prices,” mimeo, Harvard University.

      Krugman, Paul, 1989, “Exchange-Rate Instability,” L. Robbins lecture series (Cambridge, Massachusetts: MIT Press).

      Kumar, Vikram, and Joseph A.Whitt, 1992, “Exchange Rate Variability and International Trade,” Federal Reserve Bank of Atlanta, Economic Review, Vol. 37 (May/June), pp. 1732.

      Lanyi, Anthony, and EstherSuss, 1982, “Exchange Rate Variability: Alternative Measures and Interpretation,” IMF Staff Papers, International Monetary Fund, Vol. 29 (December), pp. 52760.

      Makin, John H., 1978, “Portfolio Theory and the Problem of Foreign Exchange Risk,” Journal of Finance, Vol. 33 (May), pp. 51734.

      McCallum, John, 1995, “National Borders Matter: Canada-U.S. Regional Trade Patterns,” American Economic Review, Vol. 85 (June), pp. 61523.

      McDonald, Robert L., and DanielSiegel, 1986, “The Value of Waiting to Invest,” Quarterly Journal of Economics, Vol. 101 (November), pp. 70727.

      McKenzie, Michael D., 1999, “The Impact of Exchange Rate Volatility on International Trade Flows,” Journal of Economic Surveys, Vol. 13 (February), pp. 71106.

      Meese, Richard A., and KennethRogoff, 1983, “Empirical Exchange Rate Models of the Seventies: Do They Fit Out of Sample?Journal of International Economics, Vol. 14 (February), pp. 324.

      Micco, Alejandro, ErnestoStein, and GuillermoOrdoñez, 2003, “The Currency Union Effect on Trade: Early Evidence from EMU,” Economic Policy, Vol. 37 (October), pp. 31543 and 34856.

      Mundell, Robert, 1961, “A Theory of Optimum Currency Areas,” American Economic Review, Vol. 51 (September), pp. 65765.

      Nitsch, Volker, 2002, “Honey, I Shrunk the Currency Union Effect on Trade,” World Economy, Vol. 25 (April), pp. 45774.

      Obstfeld, Maurice, and KennethRogoff, 1998, “Risk and Exchange Rates,” NBER Working Paper 6694 (Cambridge, Massachusetts: National Bureau of Economic Research).

      Pakko, Michael R., and Howard J.Wall, 2001, “Reconsidering the Trade Creating Effect of Currency Unions,” Federal Reserve Bank of St. Louis Review, September/October.

      Parsley, David, and Shang-JinWei, 2001, “Limiting Currency Volatility to Stimulate Goods Market Integration: A Price-Based Approach,” IMF Working Paper 01/197 (Washington: International Monetary Fund).

      Persson, Torsten, 2001, “Currency Union and Trade: How Large Is the Treatment Effect?Economic Policy: A European Forum, No. 33 (October), pp. 43348.

      Pindyck, Robert S., 1982, “Adjustment Costs, Uncertainty, and the Behavior of the Firm,” American Economic Review, Vol. 72 (June), pp. 41527.

      Polak, Jacques J., 1988, “The Choice of an Exchange Rate Regime,” in Development Issues in the Current International Monetary System: Essays in Honor of Byanti Khoswaman, ed. by Dahlan M.Sutalaksana (ed) (Singapore: Addision Wesley).

      Pozo, Susan, 1992, “Are Flexible Exchange Rates Really More Volatile? Evidence from the Early 1900s,” Applied Economics, Vol. 24 (November), pp. 121318.

      Prasad, Eswar, and others, 2003, Effects of Financial Globalization on Developing Countries: Some Empirical Evidence, IMF Occasional Paper No. 220 (Washington: International Monetary Fund).

      Rauch, James E., 1999, “Networks Versus Markets in International Trade,” Journal of International Economics, Vol. 48 (June), pp. 735.

      Reinhart, Carmen M., and Kenneth S.Rogoff, 2002, “A Modern History of Exchange Rate Arrangements: A Reinterpretation,” NBER Working Paper 8963 (Cambridge, Massachusetts: National Bureau of Economic Research).

      Rogoff, Kenneth, and others2004, Evolution and Performance of Exchange Rate Regimes, IMF Occasional Paper No. 229 (Washington,International Monetary Fund).

      Rose, Andrew K., 2000, “One Money, One Market: The Effect of Common Currencies on Trade,” Economic Policy, No. 30 (April), pp. 945.

      Rose, Andrew K., 2002, “Do We Really Know That the WTO Increases Trade?NBER Working Paper 9273 (Cambridge, Massachusetts: National Bureau of Economic Research).

      Rose, Andrew K., and Engel, Charles, 2000, “Currency Unions and International Integration,” NBER Working Paper 7872 (Cambridge, Massachusetts: National Bureau of Economic Research).

      Rose, Andrew K., and van Wincoop, Eric2001, “National Money as a Barrier to International Trade: The Real Case for Currency Union,” American Economic Review, Vol. 91 (May), pp. 386390.

      Sercu, Piet, and CynthiaVanhulle, 1992, “Exchange Rate Volatility, International Trade, and the Value of Exporting Firms,” Journal of Banking and Finance, Vol. 16 (February), pp. 15582.

      Smith, Christie, 2002, “Currency Unions and Gravity Models Revisited,” Discussion Paper DP/2002/07 (Wellington: Reserve Bank of New Zealand).

      Tenreyro, Silvana, 2003, “On the Trade Impact of Nominal Exchange Rate Volatility,” Working Paper 03-2 (Boston, Massachusetts: Federal Reserve Bank of Boston).

      Tenreyro, Silvana, and Barro, Robert J.Economic Effects of Currency Unions,” NBER Working Paper 9435 (Cambridge, Massachusetts: National Bureau of Economic Research).

      U. K. Treasury, 2003, “Euro 2003: EMU and Trade,” Available via the Internet: www.hm-treasury.gov.uk/.

      Viaene, Jean-Marie, and Casper G.de Vries, 1992, “International Trade and Exchange Rate Volatility,” European Economic Review, Vol. 36 (August), pp. 131121.

      Wei, Shang-Jin, 1999, “Currency Hedging and Goods Trade,” European Economic Review, Vol. 43 (June), pp. 137194.

      World Trade Organization, 2003, “Trade Restrictions for Balance-of-Payments Purposes—Note on Issues Raised by Developing Countries in the Doha Round,” WT, TF/COH/13 (Geneva).

      You are not logged in and do not have access to this content. Please login or, to subscribe to IMF eLibrary, please click here

      Other Resources Citing This Publication