G2TT
来源类型Discussion paper
规范类型论文
来源IDDP15125
DP15125 To What Extent Are Tariffs Offset By Exchange Rates?
Olivier Jeanne; Jeongwon Son
发表日期2020-08-02
出版年2020
语种英语
摘要In theory, we should expect tariffs to be partially offset by a currency appreciation in the tariff-imposing country or by a depreciation in the country on which the tariff is imposed. We find, based on a calibrated model, that the tariffs imposed by the US in 2018-19 should not have had a large impact on the dollar but may have significantly depreciated the renminbi. This prediction is consistent with a high-frequency event analysis looking at the impact of tariff-related news on the dollar and the renminbi. We find that tariffs explained at most one fifth of the dollar effective appreciation but around two thirds of the renminbi effective depreciation observed in 2018-19.
主题International Macroeconomics and Finance
关键词Exchange rates Tariffs Dollar Renminbi
URLhttps://cepr.org/publications/dp15125
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/544086
推荐引用方式
GB/T 7714
Olivier Jeanne,Jeongwon Son. DP15125 To What Extent Are Tariffs Offset By Exchange Rates?. 2020.
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