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Empirická verifikace exportní funkce s akcentem na vliv kurzu české koruny k euru
[An Empirical Verification of Export Function Focused on the Impact of EUR/CZK Exchange Rate]

Author

Listed:
  • Martin Mandel
  • Tran Van Quang

Abstract

The traditional view of international economics is that exchange rate is a leading factor which can strongly affect a country's foreign trade. However, the production fragmentation widespread around the world due to the recent globalization may weaken the role of exchange rate on international trade. As the Czech economy is a very open one, a quantitative knowledge of the impact of exchange rate on export is a valuable information for all actors in the economy. In our contribution, we examine effect of the exchange rate of the Czech crown on domestic export in three macroeconomic models in both short and long run. The first one is a Keynesian model representing the demand for export in the form of marginal propensities. The second one is a VAR model in elasticities of the reduced form. The last one is a structural model resulting from the findings from the previous one. To estimate their parameters, we use quarterly data from 2000 Q1 to 2016 Q1. In all three cases we identify statistically significant impact of exchange rate on export in short-run models.

Suggested Citation

  • Martin Mandel & Tran Van Quang, 2017. "Empirická verifikace exportní funkce s akcentem na vliv kurzu české koruny k euru [An Empirical Verification of Export Function Focused on the Impact of EUR/CZK Exchange Rate]," Politická ekonomie, Prague University of Economics and Business, vol. 2017(6), pages 649-668.
    • Handle: RePEc:prg:jnlpol:v:2017:y:2017:i:6:id:1168:p:649-668
    DOI: 10.18267/j.polek.1168
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    References listed on IDEAS

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    More about this item

    Keywords

    export functions; exchange rate; Keynesian model; VAR model; structural model;
    All these keywords.

    JEL classification:

    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F37 - International Economics - - International Finance - - - International Finance Forecasting and Simulation: Models and Applications

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