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Industry level real effective exchange rates for Korea

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  • Industry level real effective exchange rates for Korea
  • Lee, Jaerang; Yi, Byung Chang
  • The Bank of Korea


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Title Industry level real effective exchange rates for Korea
Similar Titles
Material Type Articles
Author(English)

Lee, Jaerang; Yi, Byung Chang

Publisher

[Seoul]:The Bank of Korea

Date 2006
Journal Title; Vol./Issue Economic Papers:vol. 9(no. 1)
Pages 45
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Original Format pdf
Subject Economy < General
Holding University of Washington

Abstract

This paper measures Korea’s real effective exchange rate(REER) at industry level using industry-level producer price index in major trading partner countries of Korea. At the industry level, it analyzes the effects of changes in nominal exchange rate on REER and those of movements in REER on export volume. The results of this paper show interesting findings. First, each industry has substantially different movement in its REER and its influence on export volume is also different from industry to industry, too. Second, the influence of the REER on export volume is in general reduced after the financial crisis in 1997. Lastly, in the post-crisis period, there was a time lag of more than 6 months for the REER to have an impact on export volume in most industries, especially in leading export industries in Korea. (The rest omitted)