The role of exchange rates and international trade has grown substantially over the last decades. Therefore, both issues have been important in many policy debates and they have been the focus variables in numerous economic studies. Nevertheless, there is till no full understanding of the processes underlying them. For example, do exchange rates exhibit long swings, possibly caused by infrequent changes in monetary policy? Are exchange rates in the long run governed by economic fundamentals, such as price vels? Does exchange rate stability really benefit trade, as is commonly argued when discussing the desirability of foreign exchange interventions and monetary unification? This dissertation tries to answer such unresolved economic questions. It takes an e irical point of view, using the United States as the central country. The book employs modern econometric methods and, if necessary, introduces new techniques to obtain novel insights about exchange rates and their effects on international trade.
|Qualification||Doctor of Philosophy|
|Award date||28 Jan 2000|
|Place of Publication||Tilburg|
|Publication status||Published - 2000|