Exchange rate volatility and Japan-US commodity trade: An asymmetry analysis

Küçük Resim Yok

Tarih

2019

Dergi Başlığı

Dergi ISSN

Cilt Başlığı

Yayıncı

Wiley

Erişim Hakkı

info:eu-repo/semantics/closedAccess

Özet

Exchange rate volatility is said to affect trade flows in either direction. When increased volatility is separated from decreased volatility, asymmetric analysis reveals even more support for the fact that both increased volatility and decreased volatility affect trade flows in either direction. We add to this new literature by considering 57 industries that trade between Japan and the US. In addition to providing evidence of asymmetric response of their trade flows to a measure of exchange rate volatility, our approach identifies industries that could benefit from increased exchange rate volatility and those that could be hurt. Similarly, we identify industries that could benefit from decreased volatility and those that could be hurt. The overall conclusion is the adverse effects of dollar-yen volatility on the trade between the two countries.

Açıklama

Anahtar Kelimeler

asymmetry, commodity trade, exchange rate volatility, Japan, nonlinear ARDL, US

Kaynak

World Economy

WoS Q Değeri

Q3

Scopus Q Değeri

Q1

Cilt

42

Sayı

11

Künye