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Analysis on the relationship between exchange rates and exports : The case of Korea

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Frame of Image  has been putting more pressure on these countries. In February, the Bennet-Hatch-Carper (B-H-C) amendment was signed into law, with the aim of penalizing trading partners that gain benefits through currency manipulation. This issue was also raised in the TPP Joint Declaration last year, in a move to strengthen cooperation on macroeconomic policy and promote transparent exchange rate regimes that allow real exchange rates to adjust to reflect underlying economic fundamentals. TPP countries agreed to refrain from competitive devaluation and publicly disclose monthly foreign exchange reserves data as well as quarterly intervention in foreign exchange markets. Despite the accusations on currency intervention against appreciation for competitive purposes, the causal link between the exchange rate and exports is not evident. Why exchange rates are apparently disconnected
www.kiep.go.kr
Korea Institute for International Economic Policy
Analysis on the Relationship between Exchange Rates and Exports: The Case of Korea
2
from fundamental variables of the economy, such as real exports1, has been one of the puzzles in international economics. It is referred to as the exchange-rate disconnect puzzle (Obstfeld and Rogoff (2001, NBER), and has led to great amount of literature. Berman, Martin, and Mayer (2012, QJE) study the heterogeneous reaction of exporters to real exchange rate variation using French firm-level data. They find high performance exporters react to a depreciation by incr


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Title Analysis on the relationship between exchange rates and exports
Similar Titles
Sub Title

The case of Korea

Material Type Articles
Author(English)

OH, Soo Hyun

Publisher

[Sejong, South Korea]:Korea Institute for International Economic Policy

Date 2016
Series Title; No KIEP opinion / no. 89
Pages 3
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Trade
Economy < Economic System
Holding KIEP