Global Value Chains and External Adjustment Do Exchange Rates Still Matter is popular PDF and ePub book, written by Gustavo Adler in 2019-12-27, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, Global Value Chains and External Adjustment Do Exchange Rates Still Matter can be Read Online from any device for your convenience.
Global Value Chains and External Adjustment Do Exchange Rates Still Matter Book PDF Summary
The paper explores how international integration through global value chains shapes the working of exchange rates to induce external adjustment both in the short and medium run. The analysis indicates that greater integration into international value chains reduces the exchange rate elasticity of gross trade volumes. This result holds both in the short and medium term, pointing to the rigidity of value chains. At the same time, greater value chain integration is associated with larger gross trade flows, relative to GDP, which tends to amplify the effect of exchange rate movements. Overall, combining these two results suggests that, for most countries, integration into global value chains does not materially alter the working of exchange rates and the benefits of exchange rate flexibility in facilitating external adjustment remain.
Detail Book of Global Value Chains and External Adjustment Do Exchange Rates Still Matter PDF
- Author : Gustavo Adler
- Release : 27 December 2019
- Publisher : International Monetary Fund
- ISBN : 9781513521985
- Genre : Business & Economics
- Total Page : 27 pages
- Language : English
- PDF File Size : 12,5 Mb
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