Disparate Exchange Rate Effects on Two Distinct Economic Sectors : U.S. Agricultural and Large-scale Manufacturing Sectors

• 발행기관: 한국농식품정책학회
• 저자명: Min kyoung Kim Gue dae Cho Won W. Koo
• 간행물 정보: 『농업경영.정책연구』농업경영·정책연구 33권 1호, 70~88쪽, 전체 19쪽
• 주제분류: 농수해양 > 식품과학
• 파일형태: PDF
• 발행일자: 2006.03.31

영문 초록

This study re-visits the issue of the effect of real exchange rate on the agricultural sector during the recent period of the 1990 s, using a cointegration analysis developed by Johansen and Juselius(1994), and the result is compared to that of large-scale manufacturing sector. It was found the agricultural sector is, in general, more vulnerable to an exchange rate shock than the large-scale manufacturing sector. Analysis of the transmitted impact of exchange rates to other raviables in the sectors indicates significantly differentroles of exchange rate between the sectors. Exchange rates are exogenous in the agricultural sector, while they are endogenous in the large-scale manufacturing sector, implying that the U.S. agricultural sector has been a victim of prosperous U.S. economy, which caused the U.S. dollar appreciation in the 1990 s

목차

Abstract

I. Introduction

Empirical Model Specification and Methodology

Data and Econometric Procedure

Empirical Results

Conclusion

References

키워드

Exchange Rates Exogeneity Over-identification Cointegration Impulse response Vector Error Correction Model Vector Moving Average