scholarly journals Exchange Rates, Prices, and External Adjustment in the United States and Japan

2021 ◽  
pp. 107-168
Author(s):  
PETER HOOPER ◽  
JAIME MARQUEZ
Keyword(s):  
United States ◽  
Exchange Rates ◽  
The United States ◽  
External Adjustment

Book Reviews

2015 ◽  
Vol 53 (2) ◽  
pp. 365-367
Keyword(s):  
United States ◽  
Political Economy ◽  
Exchange Rates ◽  
Latin American ◽  
Currency Crises ◽  
The United States ◽  
Exchange Rate Policy ◽  
Monetary Integration ◽  
The Political ◽  
Currency Policy

Benjamin J. Cohen of University of California, Santa Barbara reviews “Currency Politics: The Political Economy of Exchange Rate Policy”, by Jeffry A. Frieden. The Econlit abstract of this book begins: “Analyzes the politics surrounding exchange rates, including the influence of industries on the political process. Discusses the political economy of currency choice; a theory of currency policy preferences; the United States─from greenbacks to gold, 1862-79; the United States─silver threats among the gold, 1880-96; European monetary integration─from Bretton Woods to the euro and beyond; Latin American currency policy, 1970-2010; the political economy of Latin American currency crises; and the politics of exchange rates─implications and extensions.” Frieden is Professor of Government at Harvard University.

scholarly journals The Impact of Subsidies, Storage, and Exchange Rates on Exports of Canadian Fresh Carrots to the United States

1987 ◽  
Vol 16 (2) ◽  
pp. 123-129
Author(s):  
Ralph E. Bierlen ◽  
David Blandford
Keyword(s):  
United States ◽  
Exchange Rates ◽  
Cold Storage ◽  
Storage Capacity ◽  
The United States ◽  
Canadian Dollar ◽  
Canadian Government ◽  
Government Aid ◽  
The Impact ◽  
The U.S

Canadian exports of fresh carrots to the United States have increased substantially in recent years. The depreciation of the Canadian dollar against the U.S. dollar has been a major factor. Canadian government subsidies also may have had an impact by accelerating the construction of cold storage facilities. These have permitted the marketing period to be extended. However, an analysis of costs and returns suggests that cold storage of carrots is commercially profitable. Storage capacity would probably have increased without government aid. The returns to storage and the change in exchange rates are the primary factors contributing to the expansion of Canadian exports.

A Story Half Told—Selective Benefit Assessment in the New US CVD Rule for Exchange Rates

2020 ◽  
Vol 23 (4) ◽  
pp. 907-928
Author(s):  
Jaemin Lee
Keyword(s):  
United States ◽  
Exchange Rates ◽  
World Trade Organization ◽  
World Trade ◽  
The United States ◽  
Economic Policies ◽  
Benefit Analysis ◽  
Structural Problems ◽  
Consistent Manner ◽  
The One

ABSTRACT The new countervailing duty proceeding rule of the United States on exchange rates aims to address currency undervaluation through a subsidy tool under the Agreement on Subsidies and Countervailing Measures. As there is no prohibition in the Agreement on Subsidies and Countervailing Measures (ASCM) making macro-economic policies off-limits from the reach of subsidy norms, exchange rates can be subject to countervailing duty proceedings. However, there are specific requirements to be met under the ASCM and World Trade Organization jurisprudence. Most notably, the new countervailing duty proceeding rule arguably fails to meet the ‘benefit’ analysis requirements. It takes into account the effect that negatively weighs on foreign exporters subject to a countervailing duty proceeding while ignoring the one that positively weighs. This skewed benefit analysis of selective nature is difficult to sustain under the ASCM and its jurisprudence. A more detailed and thorough benefit analysis is needed to make this new scheme work in a World Trade Organization (WTO)–consistent manner. The new countervailing duty rule showcases structural problems addressing macro-economic policies through a subsidy framework.

Domestic Exchange Rates and Regional Economic Growth in the United States, 1899–1908: Evidence from Cointegration Analysis

1998 ◽  
Vol 58 (4) ◽  
pp. 1010-1026 ◽  
Author(s):  
Ronnie J. Phillips ◽  
Harvey Cutler
Keyword(s):  
United States ◽  
Economic Growth ◽  
Exchange Rate ◽  
Exchange Rates ◽  
Federal Reserve ◽  
Growth Rates ◽  
The United States ◽  
Cointegration Analysis ◽  
Regional Economic Growth ◽  
Exchange Rate Fluctuations

This article examines one feature of the pre—Federal Reserve financial system that has not been widely researched: the market for bank drafts (the “domestic exchanges”). Though the exchanges existed for nearly a century, critics argued that exchange rate fluctuations exacerbated financial panics. We find, using cointegration analysis over the period from 1899 to 1908, that differences in growth rates across regions caused predictable movements in rates. We conclude that the exchanges promoted efficiency in the payments system. This supports the view that the private sector might have developed a unified national system had the Fed not abolished the exchanges.

The Demise of Central Banking and the Domestic Exchanges: Evidence from Antebellum Ohio

1998 ◽  
Vol 58 (3) ◽  
pp. 714-730 ◽  
Author(s):  
Jane Knodell
Keyword(s):  
United States ◽  
Exchange Rates ◽  
The United States ◽  
Central Banking ◽  
Institutional Transition ◽  
Payments System ◽  
Insurance Costs

This article describes the institutional transition from a centrally managed interregional payments system to an unmanaged, decentralized one after President Andrew Jackson's veto of the rechartering of the Second Bank of the United States, and evaluates the effect on the level and variability of exchange rates. Comparison of the reduction in specie points, driven by falling transportation and insurance costs, with the reduction in exchange rates in two Ohio cities over the period from 1830 to 1859 lends support to the article's conclusion that decentralization was one cause of higher and more volatile inland exchange rates.

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