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| Tekijä: | Sercu, P. Uppal, R. |
| Otsikko: | Exchange rate volatility and international trade: a general-equilibrium analysis |
| Lehti: | European Economic Review
2003 : JUN, VOL. 47:3, p. 429-441 |
| Asiasana: | International trade Exchange rates Transaction costs Welfare economics Equilibrium analysis |
| Kieli: | eng |
| Tiivistelmä: | The authors analyze the relation between exchange-rate volatility and the volume of international trade, in a general-equilibrium stochastic-endowment economy with imperfect international commodity markets, and treating both variables as endogenous. Even in the simplest model, the sign of the relation depends on the source for the change in volatility. Even the (inter-equilibria) relation between trade and welfare is ambiguous. |
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