|
EconStor >
Federal Reserve Bank of New York >
Staff Reports, Federal Reserve Bank of New York >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/60543
|
| | |
Full metadata record
| DC Field | | Value | | Language |
| dc.contributor.author | | Goldberg, Linda | | en_US |
| dc.contributor.author | | Tille, Cédric | | en_US |
| dc.date.accessioned | | 2012-08-17T14:25:01Z | | - |
| dc.date.available | | 2012-08-17T14:25:01Z | | - |
| dc.date.issued | | 2006 | | en_US |
| dc.identifier.uri | | http://hdl.handle.net/10419/60543 | | - |
| dc.description.abstract | | The pattern of international trade adjustment is affected by the continuing international role of the dollar and related evidence on exchange rate pass-through to prices. This paper argues that a depreciation of the dollar would have asymmetric effects on flows between the United States and its trading partners. With low exchange rate pass-through to U.S. import prices and high exchange rate pass-through to the local prices of countries consuming U.S. exports, the effect of dollar depreciation on real trade flows is dominated by an adjustment in U.S. export quantities, which increase as U.S. goods become cheaper in the rest of the world. Real U.S. imports are affected less because U.S. prices are more insulated from exchange rate movements—pass-through is low and dollar invoicing is high. In relation to prices, the effects on the U.S. terms of trade are limited: U.S. exporters earn the same amount of dollars for each unit shipped abroad, and U.S. consumers do not encounter more expensive imports. Movements in dollar exchange rates also affect the international trade transactions of countries invoicing some of their trade in dollars, even when these countries are not transacting directly with the United States. | | en_US |
| dc.language.iso | | eng | | en_US |
| dc.publisher | | Federal Reserve Bank of New York New York, NY | | en_US |
| dc.relation.ispartofseries | | Staff Report, Federal Reserve Bank of New York 255 | | en_US |
| dc.subject.jel | | F3 | | en_US |
| dc.subject.jel | | F4 | | en_US |
| dc.subject.ddc | | 330 | | en_US |
| dc.subject.keyword | | exchange rate, pass-through, international role of the dollar, trade balance, current account, vehicle currency | | en_US |
| dc.subject.stw | | Exchange Rate Pass-Through | | en_US |
| dc.subject.stw | | Abwertung | | en_US |
| dc.subject.stw | | Außenhandelseffekt | | en_US |
| dc.subject.stw | | Handelsbilanz | | en_US |
| dc.subject.stw | | Leistungsbilanz | | en_US |
| dc.subject.stw | | USA | | en_US |
| dc.title | | The internationalization of the dollar and trade balance adustment | | en_US |
| dc.type | | Working Paper | | en_US |
| dc.identifier.ppn | | 519343441 | | en_US |
| dc.rights | | http://www.econstor.eu/dspace/Nutzungsbedingungen | | en_US |
| Appears in Collections: | | Staff Reports, Federal Reserve Bank of New York
|
| Files in This Item:
| |
|
| No. of Downloads:
| |
| last Month |
last 3 Month |
total |
|
|
|
|
|
Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.
|