Asymmetric Effects of Exchange Rate Changes on the Foreign Trade of Czechia

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F47813059%3A19520%2F18%3A00011201" target="_blank" >RIV/47813059:19520/18:00011201 - isvavai.cz</a>

Výsledek na webu

<a href="https://ideas.repec.org/a/mes/eaeuec/v56y2018i5p422-437.html" target="_blank" >https://ideas.repec.org/a/mes/eaeuec/v56y2018i5p422-437.html</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.1080/00128775.2018.1487767" target="_blank" >10.1080/00128775.2018.1487767</a>

Jazyk výsledku

angličtina

Název v původním jazyce

Asymmetric Effects of Exchange Rate Changes on the Foreign Trade of Czechia

Popis výsledku v původním jazyce

Previous studies of the effects of exchange rate changes on Czechia's trade balance have assumed symmetric effects on the trade balance or assumed its linear adjustment. The aim of this paper is to evaluate the asymmetric effects of the CZK/EUR exchange rate on the most important segment of Czechia´s foreign trade. The period from 1999 to 2014 was analyzed, and the data was disaggregated according to trading partner and product category. The results of the study show that exchange rate co-movement with partial trade balances is mostly confirmed by employing both applied approaches. However, the asymmetry cointegration approach, which introduces nonlinearity into the model, reveals a more significant impact of the exchange rate on commodity trade between Czechia and its most important trading partners than a more standard model that imposes symmetry. Furthermore, distinguishing between depreciation and appreciation showed that the effects at the industry level are, in fact, asymmetrical in most industries when assessing Czechia's bilateral trade with its most important trading partners.

Název v anglickém jazyce

Asymmetric Effects of Exchange Rate Changes on the Foreign Trade of Czechia

Popis výsledku anglicky

Previous studies of the effects of exchange rate changes on Czechia's trade balance have assumed symmetric effects on the trade balance or assumed its linear adjustment. The aim of this paper is to evaluate the asymmetric effects of the CZK/EUR exchange rate on the most important segment of Czechia´s foreign trade. The period from 1999 to 2014 was analyzed, and the data was disaggregated according to trading partner and product category. The results of the study show that exchange rate co-movement with partial trade balances is mostly confirmed by employing both applied approaches. However, the asymmetry cointegration approach, which introduces nonlinearity into the model, reveals a more significant impact of the exchange rate on commodity trade between Czechia and its most important trading partners than a more standard model that imposes symmetry. Furthermore, distinguishing between depreciation and appreciation showed that the effects at the industry level are, in fact, asymmetrical in most industries when assessing Czechia's bilateral trade with its most important trading partners.

Druh

J_imp - Článek v periodiku v databázi Web of Science

CEP obor

—

OECD FORD obor

50200 - Economics and Business

Projekt

—

Návaznosti

V - Vyzkumna aktivita podporovana z jinych verejnych zdroju

Rok uplatnění

2018

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

Eastern European Economics

ISSN

0012-8775

e-ISSN

1557-9298

Svazek periodika

5

Číslo periodika v rámci svazku

56

Stát vydavatele periodika

GB - Spojené království Velké Británie a Severního Irska

Počet stran výsledku

16

Strana od-do

422-437

Kód UT WoS článku

000443864300005

EID výsledku v databázi Scopus

2-s2.0-85049658093