Exchange rates and export performance: evidence from micro-data
AbstractThis article presents a summary of early results from an ongoing Reserve Bank research programme on the impact of exchange rates on firm-level export behaviour. Understanding responses to exchange rate movements at the level of individual firms is key to a deeper understanding of the channels through which economic and policy changes are transmitted through the economy. Results suggest that New Zealand firms have limited ability to respond to exchange rate changes through price-setting. Rather, explicit hedging is common and firms’ trade behaviour reflects a desire to avoid the risk associated with exchange rate volatility.
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Bibliographic InfoArticle provided by Reserve Bank of New Zealand in its journal Reserve Bank of New Zealand Bulletin.
Volume (Year): 72 (2009)
Issue (Month): (June)
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- Gemma Mabin, 2011. "New Zealand's Exchange Rate Cycles: Impacts and Policy," Treasury Working Paper Series 11/01, New Zealand Treasury.
- Enzo Cassino & David Oxley, 2013. "How Does the Exchange Rate Affect the Real Economy? A Literature Survey," Treasury Working Paper Series 13/26, New Zealand Treasury.
- Willy Chetwin & Tim Ng & Daan Steenkamp, 2013. "New Zealand’s short- and medium-term real exchange rate volatility: drivers and policy implications," Reserve Bank of New Zealand Analytical Notes series AN2013/03, Reserve Bank of New Zealand.
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