Does Real Exchange Rate Volatility Affect Sectoral Trade Flows?

被引：10

作者：

Caglayan, Mustafa ^{[1
]}

Di, Jing ^{[1
]}

机构：

[1] Univ Sheffield, Dept Econ, Sheffield S1 4DT, S Yorkshire, England

来源：

SOUTHERN ECONOMIC JOURNAL | 2010年 / 77卷 / 02期

关键词：

STATES BILATERAL TRADE; INTERNATIONAL-TRADE; RATE VARIABILITY; RATE UNCERTAINTY; FOREIGN-TRADE; TIME-SERIES; UNIT-ROOT; RATE RISK; EXPORTS; VOLUME;

D O I：

10.4284/sej.2010.77.2.313

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This article investigates empirically the effect of real exchange rate volatility on sectoral bilateral trade flows between the United States and its top 13 trading partners. Our investigation also considers those effects on trade flows that may arise through changes in income volatility and the interaction between income and exchange rate volatilities. We provide evidence that (i) exchange rate volatility does not systematically affect sectoral trade flows, (ii) income volatility has little impact on trade flows, and (iii) the effect of the interaction term on trade flows is opposite that of exchange rate volatility, dampening its impact on trade flows.

引用

页码：313 / 335

页数：23

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