Wechselkursunsicherheit und Außenhandel: Eine Analye der theoretischen Literatur
AbstractThe impact of exchange rate uncertainty on international trade has been discussed controversially in economic policy and theory for a long time. The paper surveys the theoretical investigations on this topic. The early modeis which analyse the influence of exchange rate uncertainty on trade, conclude that exchange rate uncertainty has a negative impact on the trade volume and may induce changes of the prices of traded goods. These results, however, are due to the very restrictive and often unrealistic assumptions of the modeis. Thus, extensions of the basic modeis have been developed. By relaxing the assumptions in order to better reflect reality, these extended modeis show that under certain conditions exchange rate uncertainty has no or even a positive impact on international trade. Thus, it becomes evident that the results of the theoretical analysis to a great extent depend on the underlying assumptions of the modeis.
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Bibliographic InfoPaper provided by Kiel Institute for the World Economy in its series Kiel Working Papers with number 830.
Date of creation: 1997
Date of revision:
International Trade; Exchange Rates; Uncertainty;
Find related papers by JEL classification:
- F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
- G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
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