This paper estimates a 3-country DSGE model to identify the drivers of exchange rate volatility in small open economies (SOE). In addition to the usual cross-country linkages through trade and asset holdings, the model features common shocks that affect economies symmetrically. Using data from...

This paper estimates a 3-country DSGE model to identify the drivers of exchange rate volatility in small open economies (SOE). The model features common shocks that affect economies symmetrically. Using data from Jamaica, the US and the G-7 region, the paper finds that external financial shocks...

This article aims to examine the long and short run relationship between agricultural exports and agriculture share of GDP. Links between series considered are assessed by co-integration analysis using Johansen co-integration technique and ECM-GARCH. Results indicate a positive link in the short...

Recognizing the importance of the relationship between stock market and oil prices, this paper examines the long-term price relationships between the Dubai oil price and stock market returns for two large oil-consuming countries in Asia, namely China and Korea, by estimating the Shanghai Stock...

A frequently stated objective of regional and multilateral trade agreements is to stabilize trade and reduce volatility in trade flows. We examine whether trade agreements accomplish this goal. Using a structural gravity approach we identify two potential channels through which international...

This paper assesses how regional trade agreements (RTAs) impact growth volatility on a worldwide sample of 170 countries with data spanning the period 1978-2012.Notwithstanding concerns that trade openness through RTAs can heighten exposure to shocks, in particular when it leads to increased...

Export structure is less diversified in low-income countries (LICs) and especially small states that face resource constraints and small economic size. This paper explores the potential linkages between export structure and economic growth and its volatility in LICs and small states, using a...