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Exchange rate volatility and Japan-U.S. commodity trade: An asymmetry analysis

机译:汇率波动与日美商品贸易:不对称分析

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Exchange rate volatility is said to affect trade flows in either direction. When increased volatility is separated from decreased volatility, asymmetric analysis reveals even more support for the fact that both increased volatility and decreased volatility affect trade flows in either direction. We add to this new literature by considering 57 industries that trade between Japan and the US. In addition to providing evidence of asymmetric response of their trade flows to a measure of exchange rate volatility, our approach identifies industries that could benefit from increased exchange rate volatility and those that could be hurt. Similarly, we identify industries that could benefit from decreased volatility and those that could be hurt. The overall conclusion is the adverse effects of dollar-yen volatility on the trade between the two countries.
机译:据说汇率波动会影响两个方向的贸易流量。当波动率的增加与波动率的减少分开时,不对称分析显示出以下事实的进一步支持:波动率的增加和波动率的降低都会影响双向贸易。通过考虑日美之间贸易的57个行业,我们增加了这一新文献。除了提供证据表明贸易流量对汇率波动性的反应不对称之外,我们的方法还确定了可以从汇率波动性增加中受益并可能受到损害的行业。同样,我们确定了可以从波动性下降中受益的行业以及可能受到伤害的行业。总的结论是美元兑日元汇率波动对两国之间的贸易产生了不利影响。

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