Limiting Currency Volatility to Stimulate Goods Market Integration: A Price-Based Approach
This paper studies the effect of instrumental and institutional stabilization of exchange rate volatility on the integration of goods markets. Rather than using data on volume of trade, this paper employs a 3-dimensional panel of prices of 95 very disaggregated goods (e.g., light bulbs) in 83 cities...
Gespeichert in:
1. Verfasser: | |
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Format: | Elektronisch E-Book |
Sprache: | English |
Veröffentlicht: |
Washington, D.C
International Monetary Fund
2001
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Schriftenreihe: | IMF Working Papers
Working Paper No. 01/197 |
Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
Zusammenfassung: | This paper studies the effect of instrumental and institutional stabilization of exchange rate volatility on the integration of goods markets. Rather than using data on volume of trade, this paper employs a 3-dimensional panel of prices of 95 very disaggregated goods (e.g., light bulbs) in 83 cities around the world during 1990-2000. We find that the impact of an institutional stabilization-currency board or dollarization-promotes market integration far beyond an instrumental stabilization. Among them, long-term currency unions are more effective than more recent currency boards. All have room to improve relative to a U.S. benchmark |
Beschreibung: | 1 Online-Ressource (32 p) |
ISBN: | 1451860013 9781451860016 |
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spelling | Parsley, David C. Verfasser aut Limiting Currency Volatility to Stimulate Goods Market Integration A Price-Based Approach Parsley, David C Washington, D.C International Monetary Fund 2001 1 Online-Ressource (32 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 01/197 This paper studies the effect of instrumental and institutional stabilization of exchange rate volatility on the integration of goods markets. Rather than using data on volume of trade, this paper employs a 3-dimensional panel of prices of 95 very disaggregated goods (e.g., light bulbs) in 83 cities around the world during 1990-2000. We find that the impact of an institutional stabilization-currency board or dollarization-promotes market integration far beyond an instrumental stabilization. Among them, long-term currency unions are more effective than more recent currency boards. All have room to improve relative to a U.S. benchmark Online-Ausg Wei, Shang-Jin Sonstige oth http://elibrary.imf.org/view/IMF001/04308-9781451860016/04308-9781451860016/04308-9781451860016.xml Verlag URL des Erstveröffentlichers Volltext |
spellingShingle | Parsley, David C. Limiting Currency Volatility to Stimulate Goods Market Integration A Price-Based Approach |
title | Limiting Currency Volatility to Stimulate Goods Market Integration A Price-Based Approach |
title_auth | Limiting Currency Volatility to Stimulate Goods Market Integration A Price-Based Approach |
title_exact_search | Limiting Currency Volatility to Stimulate Goods Market Integration A Price-Based Approach |
title_exact_search_txtP | Limiting Currency Volatility to Stimulate Goods Market Integration A Price-Based Approach |
title_full | Limiting Currency Volatility to Stimulate Goods Market Integration A Price-Based Approach Parsley, David C |
title_fullStr | Limiting Currency Volatility to Stimulate Goods Market Integration A Price-Based Approach Parsley, David C |
title_full_unstemmed | Limiting Currency Volatility to Stimulate Goods Market Integration A Price-Based Approach Parsley, David C |
title_short | Limiting Currency Volatility to Stimulate Goods Market Integration |
title_sort | limiting currency volatility to stimulate goods market integration a price based approach |
title_sub | A Price-Based Approach |
url | http://elibrary.imf.org/view/IMF001/04308-9781451860016/04308-9781451860016/04308-9781451860016.xml |
work_keys_str_mv | AT parsleydavidc limitingcurrencyvolatilitytostimulategoodsmarketintegrationapricebasedapproach AT weishangjin limitingcurrencyvolatilitytostimulategoodsmarketintegrationapricebasedapproach |