Exchange Rate Risk And Export Revenue In Taiwan
The effect of exchange rate risk on export revenue in Taiwan between 1979 and 2001 is investigated in a bivariate GARCH-M model that simultaneously estimates time-varying risk. Depreciation is found to stimulate export revenue in domestic currency, but the quantitative impact is small and any associated increase in exchange risk has a negative impact. Implications for economic policy are discussed. Copyright 2004 Blackwell Publishing Ltd
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Volume (Year): 9 (2004)
Issue (Month): 2 (June)
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