Narrow Your Choices

Refine By Topic

Refine By Series

Refine By Language

Refine By Date

—

Refine By IMF Taxonomy

Refine By JEL Taxonomy

Refine by LOC Taxonomy

Refine By THEMA Taxonomy

  • Print
  • Save

Europe > Iceland

You are looking at 1 - 3 of 3 items for :

  • Type: Journal Issue x
  • Empirical Studies of Trade x
Clear All Modify Search
Cover IMF Working Papers
The Euro’s Effecton Trade Imbalances
Mr. Helge Berger
and
Volker Nitsch
When does trade become a one-way relationship? We study bilateral trade balances for a sample of 18 European countries over the period from 1948 through 2008. We find that, with the introduction of the euro, trade imbalances among euro area members widened considerably, even after allowing for permanent asymmetries in trade competitiveness within pairs of countries or in the overall trade competitiveness of individual countries. This is consistent with indications that pair-wise trade tends to be more balanced when nominal exchange rates are flexible. Intra-euro area imbalances also seem to have become more persistent with the introduction of the euro, some of which is linked to labor market inflexibility. Reviewing the direction of imbalances, we find that bilateral trade surpluses are decreasing in the real exchange rate, decreasing in growth differentials, and increasing in the relative volatility of national business cycles. Finally, countries with relatively higher fiscal deficits and less flexible labor and product markets exhibit systematically lower trade surpluses than others.
Keywords:
WP; trade imbalance; member country; dependent variable; imbalances; trade balance; trade surplus; trade deficit; euro; EMU; European integration; product market; × EMU; exchange rate variability; area trade; exchange rate volatility; euro area member; Plurilateral trade; Trade surpluses; Exchange rates; Trade deficits
Cover IMF Staff Country Reports
New Zealand: Selected Issues
International Monetary Fund
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
Keywords:
ISCR; CR; bank; GDP; price; terms of trade boom; bank capital; New Zealand bank; asset quality; GDP increase; disclosure statement; Mortgages; Terms of trade; Return on investment; Fiscal stimulus; Capital adequacy requirements; Global
Cover IMF Working Papers
Estimating Iceland’s Real Equilibrium Exchange Rate
Mr. Robert Tchaidze
Given recent developments in Iceland, this paper evaluates its real exchange rate disequilibrium. It discusses three approaches to estimating the equilibrium values and suggests that the adjustment needed to bring the real exchange rate in line with fundamentals is in the range of 15-25 percent, although timing and manner of this adjustment is unclear.
Keywords:
WP; REER; GDP