Item description for EXCHANGE RATE VARIABILITY AND TRADE (Tinbergen Institute Research) by Jan Kees Martijn...
The past two decades have witnessed large fluctuations in the exchange rates of the main currencies in the western world. The impact of these fluctuations on international trade flows is the subject of an ongoing debate. At the onset of the present era of flexible exchange rates, many supporters of the new system emphasized their potential beneficial impact. The removal of the external balance constraint was thought to help promote a more liberal trading system. It has become clear, however, that important counteracting forces may also be at work. Lasting misalignments of exchange rates can cause sectoral disturbances that, in turn, may induce import protective measures. In addition, exchange-rate uncertainty may directly induce importers and exporters to reduce their level of activity. This study both reviews and extends the various theoretical arguments that play a role in this important discussion. No conclusive answers can be given regarding the impact of exchange-rate instability. However, the various issues are thoroughly discussed, providing further insight into the many consequences of fluctuating exchange rates.
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Studio: Purdue University Press
Est. Packaging Dimensions: Length: 8.6" Width: 5.9" Height: 0.7" Weight: 0.8 lbs.
Release Date Aug 20, 2003
Publisher Purdue University Press
ISBN 905170089X ISBN13 9789051700893