Exchange Rate Volatility as a Barrier to Trade: New Methodologies and Recent Evidence
The analysis of the border effect in a multi-currency framework reveals that volatility accounts for an important part of the border effect in Europe. This paper proposes an explanation of why this methodology yields robust results of the negative effects of volatility on trade, contrary to a three decades-old literature that is characterised by weak and controversial results.
Volume (Year): (2002)
Issue (Month): 89-90 ()
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