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Trade Sensitivity to Exchange Rates in the Context of Intra-Industry Trade / Yoko Oguro, Kyoji Fukao, Yougesh Khatri.
- Format:
- Book
- Government document
- Author/Creator:
- Oguro, Yoko.
- Series:
- IMF Working Papers; Working Paper ; No. 2008/134
- IMF working paper ; WP/08/134
- IMF Working Papers
- Language:
- English
- Subjects (All):
- International trade.
- Foreign exchange rates.
- Physical Description:
- 1 online resource (22 pages) : illustrations, tables.
- Edition:
- 1st ed.
- Place of Publication:
- Washington, D.C. : International Monetary Fund, 2008.
- Language Note:
- English
- Summary:
- This paper theoretically and empirically investigates export sensitivity to exchange rates in the context of intra-industry trade (IIT). It is assumed that more IIT implies a smaller elasticity of substitution among differentiated products and vice versa. The model presented suggests the gap in production costs between two countries has an influence on IIT as well. Industry-level pane regressions of thirty-eight trading pairs provide strong empirical support for the idea that the exchange rate sensitivity of exports declines in concert with the extent of ITT. An obvious policy implication is that the effectiveness of exchange rates in addressing trade imbalances will diminish as the extent of IIT increases.
- Contents:
- Intro
- Contents
- I. Introduction
- II. Background and Theory
- III. Empirical Model
- IV. Data
- V. Empirical Results
- VI. Conclusion
- References
- Box 1
- Simulation of Real Exchange Rate Elasticities for China's Exports to North America
- Figures
- 1.a. Degree of Intra-Industry Trade
- 1.b. China's Degree of Intra-Industry Trade
- 2. Thirty-Eight Trade Pairs
- Tables
- 1.a. Estimation Results of the Export Equation [Random Effects (GLS)]
- 1.b. Estimation Results of the Export Equation [Fixed Effects (within)].
- Notes:
- Bibliographic Level Mode of Issuance: Monograph
- Includes bibliographical references.
- Description based on online resource; title from PDF front page (ebrary, viewed February 26, 2014).
- ISBN:
- 9786612840869
- 9781462310395
- 1462310397
- 9781282840867
- 128284086X
- 9781451869934
- 1451869932
- 9781451994353
- 1451994354
- OCLC:
- 252094699
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