重要事項 Import Notes

重要事項 Import Notes
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2013-10-24

The Financial Implications of a VAR Model of the Determinants of Exchange Rates: The Case of South Korea.






作者:
Yvonne Chen1 ychen@depaul.edu
Yu Hsing2
資料來源:
International Journal of Management. Sep2005, Vol. 22 Issue 3, p332-340. 9p. 2 Charts, 1 Graph.
文件類型:
Article
主題術語:
*FOREIGN exchange rates
*BUDGET deficits
*DEFICIT financing
*INTEREST rates
*STRATEGIC planning
*PRICE regulation
*EQUILIBRIUM (Economics)
KOREA (South) -- Economic conditions
NAICS/產業代碼:
926150 Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors
摘要:
Applying a VAR model based on a sample from 1981.Q1 – 2002.Q3, the nominal exchange rate in Korea was found to have a positive response to a shock to the U.S. output, real budget deficits, the price level in the U.S., and its own lagged values. The exchange ratereacts negatively to a shock to output in Korea, the interest rate differential between the U.S. and Korea, and the price level in Korea. Second only to lagged exchange rates, the price level in Korea had a very significant impact on the movement of exchange rate. The interest rate differential and government deficit are considerable factors as well, explaining up to 8.6% and 7.9% of the variation inexchange rates, respectively. By evaluating the simultaneous differential equations, exchange rate and interest rate differentials are proven to follow certain paths toward conditional equilibrium. The model and empirical results can provide insights for multinational companies in developing a business strategy that better controls the exchange rate risk of Korean won.[ABSTRACT FROM AUTHOR]
 
Copyright of International Journal of Management is the property of International Journal of Management and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract.(Copyright applies to all Abstracts.)
作者所屬機構:
1DePaul University
2Southeastern Louisiana University
ISSN:
0813-0183
入藏號碼:
18390878
資料庫:
Business Source Complete
資料來源:http://0-web.ebscohost.com.cylis.lib.cycu.edu.tw/ehost/detail?sid=62b387c1-e704-4d39-acb8-b551b0dce008%40sessionmgr12&vid=10&hid=1&bdata=Jmxhbmc9emgtdHcmc2l0ZT1laG9zdC1saXZl#db=bth&AN=18390878
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== Posted on 2009.10.05 ==
請同學在你所選的 paper 加上標籤:「已選」
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