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Trade deficits and surpluses are sometimes attributed to intentionally low or high exchange rate levels. The impact of exchange rate levels on trade has been much debated but the large body of existing empirical literature does not suggest an unequivocally clear picture of the trade impacts of...
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This paper examines the relationship between exchange rate fluctuations and New Zealand export performance. To isolate … performance or overseas market characteristics, we focus on bilateral export relationships at the firm level and control for both … time-invariant country characteristics and changes in aggregate economic conditions. We examine two key margins of export …
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Purpose – The existing literature on real estate investment trust (REIT) capital-structure decisions implicitly excludes either interest payment tax shield benefits or a trust's growth potential. The purpose of this paper is to test the long-term debt leverage decisions of listed property...
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