全球智库信息集成服务系统(G2TT): The International Role of the Dollar and Trade Balance Adjustment

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w12495
来源ID	Working Paper 12495
	The International Role of the Dollar and Trade Balance Adjustment
	Linda S. Goldberg; Cédric Tille
发表日期	2006-08-31
出版年	2006
语种	英语
摘要	The pattern of international trade adjustment is affected by the continuing international role of the dollar and related evidence on exchange rate pass-through into prices. This paper argues that a depreciation of the dollar would have asymmetric effects on flows between the United States and its trading partners. With low exchange rate pass-through to U.S. import prices and high exchange rate pass-through to the local prices of countries consuming U.S. exports, the effect of dollar depreciation on real trade flows is dominated by an adjustment in U.S. export quantities, which increase as U.S. goods become cheaper in the rest of the world. Real U.S. imports are affected less because U.S. prices are more insulated from exchange rate movements -- pass-through is low and dollar invoicing is high. In relation to prices, the effects on the U.S. terms of trade are limited: U.S. exporters earn the same amount of dollars for each unit shipped abroad, and U.S. consumers do not encounter more expensive imports. Movements in dollar exchange rates also affect the international trade transactions of countries invoicing some of their trade in dollars, even when these countries are not transacting directly with the United States.
主题	International Economics ; Trade ; International Finance ; International Macroeconomics
URL	https://www.nber.org/papers/w12495
来源智库	National Bureau of Economic Research (United States)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/570152
推荐引用方式 GB/T 7714	Linda S. Goldberg,Cédric Tille. The International Role of the Dollar and Trade Balance Adjustment. 2006.

条目包含的文件
文件名称/大小	资源类型	版本类型	开放类型	使用许可
w12495.pdf（178KB）	智库出版物		限制开放	CC BY-NC-SA	浏览