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Using a dataset of 101 countries over the 1960–2011 period, we examine the relationship between the real effective exchange rate (REER), on the one hand, and trade openness, trade balance, the terms of trade, factor productivity, and exchange rate regime, on the other one. We use new...
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I examine the effect of exogenous terms of trade shocks on an exchange rate by turning to New Zealand's dairy auctions. Dairy is New Zealand's largest export category, making up almost 20 percent of exports. Specifically, whole milk powder accounts for 6 to 11 percent of total exports, and its...
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multi-country model, with world market clearing, which incorporates speculative and non-speculative demands for inventories … matters, and that supply and demand elasticities are important in determining the commodity price in world markets above and … beyond the size of the share of those commodities in world trade …
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Im Rahmen eines Zwei-Länder-Modells à la Obstfeld/ Rogoff werden die Wohlfahrtseffekte der Geldpolitik untersucht, wobei unvollständig kompetitive Güter und Arbeitsmärkte sowie Monopolmacht im internationalen Güterhandel unterstellt werden. Die Hauptresultate sind: (1) Eine expansive...
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