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Asymmetric Effects of Won Exchange Rate Changes

Author

Listed:
  • Lee, Seungho

    (The Bank Of Korea)

Abstract

This paper analyses an asymmetric effect of exchange rate change to the unit price of export and import indices and domestic price. Using regressions and impulse response analyses, I found that obvious asymmetric effects exist in most of the relevant variables. In other words, the decrease of unit price of export and import and the increase of the producers' price index are more significant when the Korean won depreciates. From a policy perspective, it should be considered that the continuing depreciation of the won may cause a burdensome inflationary pressure instead of boosting up exports by strengthening price competitiveness.

Suggested Citation

  • Lee, Seungho, 2002. "Asymmetric Effects of Won Exchange Rate Changes," East Asian Economic Review, Korea Institute for International Economic Policy, vol. 6(1), pages 31-50, June.
    • Handle: RePEc:ris:eaerev:0229
    DOI: 10.11644/KIEP.JEAI.2002.6.1.89
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    More about this item

    Keywords

    Asymmetry; Exchange Rate Change; Exchange Risk; Won;
    All these keywords.

    JEL classification:

    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements

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