Financial and insurance services trade and role of the exchange rate: An asymmetric analysis

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dc.authoridKaramelikli, Huseyin/0000-0001-7622-0972
dc.authoridBahmani-Oskooee, M/0000-0002-8242-7715
dc.contributor.authorBahmani-Oskooee, Mohsen
dc.contributor.authorKaramelikli, Huseyin
dc.date.accessioned2024-09-29T15:55:16Z
dc.date.available2024-09-29T15:55:16Z
dc.date.issued2021
dc.departmentKarabük Üniversitesien_US
dc.description.abstractAlmost all studies in the trade literature have concentrated on the trade in goods. Recently, a study considered trade in two service industries (insurance and financial) between the U.S. and six of her trading partners and concluded that exchange rate changes have no significant effects on the U.S. service trade. Could such a finding be due to assuming the effects to be symmetric? We provide an affirmative answer by arguing and demonstrating that the effects of exchange rate on service trade could be asymmetric, which requires using nonlinear models. Once we estimate the nonlinear models, indeed we show that dollar depreciation and dollar appreciation have significant short-run and long-run effects on the U.S. inpayments from and outpayments to most of its partners in the two service industries. We attribute our new discoveries to the nonlinear adjustment of the real exchange rate. (C) 2021 Economic Society of Australia, Queensland. Published by Elsevier B.V. All rights reserved.en_US
dc.identifier.doi10.1016/j.eap.2021.09.001
dc.identifier.endpage367en_US
dc.identifier.issn0313-5926
dc.identifier.scopus2-s2.0-85116059386en_US
dc.identifier.scopusqualityQ1en_US
dc.identifier.startpage358en_US
dc.identifier.urihttps://doi.org/10.1016/j.eap.2021.09.001
dc.identifier.urihttps://hdl.handle.net/20.500.14619/4563
dc.identifier.volume72en_US
dc.identifier.wosWOS:000724791700026en_US
dc.identifier.wosqualityQ1en_US
dc.indekslendigikaynakWeb of Scienceen_US
dc.indekslendigikaynakScopusen_US
dc.language.isoenen_US
dc.publisherElsevieren_US
dc.relation.ispartofEconomic Analysis and Policyen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/closedAccessen_US
dc.subjectTrade in servicesen_US
dc.subjectThe U.S.en_US
dc.subjectReal exchange rateen_US
dc.subjectAsymmetric analysisen_US
dc.subjectNonlinear ARDLen_US
dc.titleFinancial and insurance services trade and role of the exchange rate: An asymmetric analysisen_US
dc.typeArticleen_US

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