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Back Matter

Back Matter »

Source: A New Look at Exchange Rate Volatility and Trade Flows

Series: Occasional Papers

Author(s): Peter Clark , Shang-Jin Wei , Natalia Tamirisa , Azim Sadikov , and Li Zeng

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 2004

ISBN: 9781589063587

Keywords: Capital flows, Exchange rates, Trade, exchange rate, exchange rate volatility, real exchange rate, bilateral trade

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 a...

Front Matter

Front Matter »

Source: A New Look at Exchange Rate Volatility and Trade Flows

Series: Occasional Papers

Author(s): Peter Clark , Shang-Jin Wei , Natalia Tamirisa , Azim Sadikov , and Li Zeng

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 2004

ISBN: 9781589063587

Keywords: Capital flows, Exchange rates, Trade, exchange rate, exchange rate volatility, real exchange rate, bilateral trade

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 a...

Appendix: Determining Whether Countries with Stable Exchange Rates and a Common Currency Trade More

Appendix: Determining Whether Countries with Stable Exchange Rates and a Common Currency Trade More »

Source: A New Look at Exchange Rate Volatility and Trade Flows

Series: Occasional Papers

Author(s): Peter Clark , Shang-Jin Wei , Natalia Tamirisa , Azim Sadikov , and Li Zeng

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 2004

ISBN: 9781589063587

Keywords: Capital flows, Exchange rates, Trade, exchange rate, exchange rate volatility, real exchange rate, bilateral trade

While there is some evidence of a negative effect of exchange rate volatility on trade, it is not robust to variations in specification. This is true both for aggreg...

Financial Integration and Macroeconomic Volatility

Financial Integration and Macroeconomic Volatility »

Source: Financial Integration and Macroeconomic Volatility

Volume/Issue: 2003/50

Series: IMF Working Papers

Author(s): Marco Terrones , Eswar Prasad , and Ayhan Kose

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2003

ISBN: 9781451846997

Keywords: Financial Globalization, Macroeconomic Fluctuations, Income and Consumption Volatility, International Risk Sharing, financial integration, output volatility, capital flows, trade openness, trade integration, Financial Aspects of Economic Integration

This paper examines the impact of international financial integration on macroeconomic volatility in a large group of industrial and developing economies over the period 1960-99. We report two major results: First,...

I Overview

I Overview »

Source: A New Look at Exchange Rate Volatility and Trade Flows

Series: Occasional Papers

Author(s): Peter Clark , Shang-Jin Wei , Natalia Tamirisa , Azim Sadikov , and Li Zeng

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 2004

ISBN: 9781589063587

Keywords: Capital flows, Exchange rates, Trade, exchange rate, exchange rate volatility, real exchange rate, bilateral trade

In 1984 the IMF produced a study for the General Agreement on Tariffs and Trade (GATT) on the impact of exchange rate volatility on world trade. That study was motivated by an increase in protec...

II A Brief Review of the Theoretical and Empirical Literature

II A Brief Review of the Theoretical and Empirical Literature »

Source: A New Look at Exchange Rate Volatility and Trade Flows

Series: Occasional Papers

Author(s): Peter Clark , Shang-Jin Wei , Natalia Tamirisa , Azim Sadikov , and Li Zeng

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 2004

ISBN: 9781589063587

Keywords: Capital flows, Exchange rates, Trade, exchange rate, exchange rate volatility, real exchange rate, bilateral trade

Since the appearance of the 1984 IMF study on the effects of exchange rate volatility on trade, two survey papers covering the literature on this topic have appeared, Côté (1994) and McKenzie (1...

III Recent History and Geography of Exchange Rate Volatility

III Recent History and Geography of Exchange Rate Volatility »

Source: A New Look at Exchange Rate Volatility and Trade Flows

Series: Occasional Papers

Author(s): Peter Clark , Shang-Jin Wei , Natalia Tamirisa , Azim Sadikov , and Li Zeng

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 2004

ISBN: 9781589063587

Keywords: Capital flows, Exchange rates, Trade, exchange rate, exchange rate volatility, real exchange rate, bilateral trade

Measuring Exchange Rate Volatility In the voluminous literature on exchange rate volatility and trade, there is no consensus on the appropriate method for measuring such volatility....

Financial Integration and Macroeconomic Volatility

Financial Integration and Macroeconomic Volatility »

Volume/Issue: 2003/50

Series: IMF Working Papers

Author(s): Marco Terrones , Eswar Prasad , and Ayhan Kose

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2003

DOI: http://dx.doi.org/10.5089/9781451846997.001

ISBN: 9781451846997

Keywords: Financial Globalization, Macroeconomic Fluctuations, Income and Consumption Volatility, International Risk Sharing, financial integration, output volatility, capital flows, trade openness, trade integration, Financial Aspects of Economic Integration

This paper examines the impact of international financial integration on macroeconomic volatility in a large group of industrial and developing economies over the period 1960-99. We report two major results: First,...

IV New Evidence on the Effect of Exchange Rate Volatility on Trade

IV New Evidence on the Effect of Exchange Rate Volatility on Trade »

Source: A New Look at Exchange Rate Volatility and Trade Flows

Series: Occasional Papers

Author(s): Peter Clark , Shang-Jin Wei , Natalia Tamirisa , Azim Sadikov , and Li Zeng

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 2004

ISBN: 9781589063587

Keywords: Capital flows, Exchange rates, Trade, exchange rate, exchange rate volatility, real exchange rate, bilateral trade

As discussed in Section II, theoretical models do not point unambiguously to a negative effect of exchange rate volatility on trade. Moreover, empirical analysis in the existing literature has n...

A New Look at Exchange Rate Volatility and Trade Flows

A New Look at Exchange Rate Volatility and Trade Flows »

Series: Occasional Papers

Author(s): Peter Clark , Shang-Jin Wei , Natalia Tamirisa , Azim Sadikov , and Li Zeng

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 2004

DOI: http://dx.doi.org/10.5089/9781589063587.084

ISBN: 9781589063587

Keywords: Capital flows, Exchange rates, Trade, exchange rate, exchange rate volatility, real exchange rate, bilateral trade

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 a...