Wanjoong Kim (Korea Institute for International Economic Policy) Terrence Kinal (Korea Institute for International Economic Policy)
Abstract
Exchange rate fluctuations provide a source of movements in employment both within and across industries. Previous studies focus on only developed countries such as OECD countries. But country and industry characteristics in developing countries are different form those developed countries, so that the effects of fluctuations in real exchange rates on employment in developing countries may be different form those in developed countries. This paper examines the relationship between exchange rates and employment using a panel of 28 industries in three developing countries (Korea, Malaysia, and the Philippines) from 1970 to the 1990s using a panel VAR model. The impulse response functions show that Korean and Malaysian employment responds positively only after 1985. Compared to e the developed countries over the same period, the developing countries show a larger response to exchange rate shocks.
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Publisher Info
Paper provided by East Asian Bureau of Economic Research in its series Macroeconomics Working Papers with number
315.
Length: 44 pages Date of creation: Nov 2004 Date of revision: Handle: RePEc:eab:macroe:315
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Find related papers by JEL classification: F31 - International Economics - - International Finance - - - Foreign Exchange F3 - International Economics - - International Finance F4 - International Economics - - Macroeconomic Aspects of International Trade and Finance E24 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution
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