| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w13659 |
| 来源ID | Working Paper 13659 |
| Exchange Rate Volatility and First-Time Entry by Multinational Firms | |
| Katheryn Niles Russ | |
| 发表日期 | 2007-11-14 |
| 出版年 | 2007 |
| 语种 | 英语 |
| 摘要 | Using a model with upfront sunk costs, heterogeneous firms, and endogenous exchange rates, this paper demonstrates theoretically that volatility in fundamental variables such as the nominal interest rate that drive exchange rate volatility can simultaneously impact the entry behavior of multinational firms through a relative price channel unrelated to exchange rate risk. It then provides an empirical illustration of the bias this endogeneity can cause when regressing measures of foreign direct investment on exchange rate volatility. It is the first paper to provide empirical evidence that interest rate volatility may influence the behavior of multinational firms. |
| 主题 | International Economics ; Trade ; International Factor Mobility ; International Macroeconomics |
| URL | https://www.nber.org/papers/w13659 |
| 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/571284 |
| 推荐引用方式 GB/T 7714 | Katheryn Niles Russ. Exchange Rate Volatility and First-Time Entry by Multinational Firms. 2007. |
| 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 | ||
| w13659.pdf（525KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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