英语翻译6.Conclusion—— the purpose of this paper has been to examine the relationship between the real trade balance and the real exchange rate for bilateral trade in merchandise goods between Singapore and the U.S.over the period 1970 to 199
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英语翻译6.Conclusion—— the purpose of this paper has been to examine the relationship between the real trade balance and the real exchange rate for bilateral trade in merchandise goods between Singapore and the U.S.over the period 1970 to 199
英语翻译
6.Conclusion—— the purpose of this paper has been to examine the relationship between the real trade balance and the real exchange rate for bilateral trade in merchandise goods between Singapore and the U.S.over the period 1970 to 1996 using the partial reduced form model of Rose and Yellen (1989),derived from the two-country imperfect substitutes model.Singapore is particularly interesting in this respect since,despite periods of rapid nominal and real appreciation of the Singapore dollar,export growth in aggregate has remained buoyant.Our findings suggest that the real exchange rate does not have a significant impact on the real bilateral trade balance for Singapore and the U.S.and we can find little evidence of a J-curve effect.Although positive coefficients linking real exports with lagged values of thereal exchange rate might be indicative of “small country” pricing by exporters in U.S.dollars,it is not clear that this is masking J-curve effects from an
英语翻译6.Conclusion—— the purpose of this paper has been to examine the relationship between the real trade balance and the real exchange rate for bilateral trade in merchandise goods between Singapore and the U.S.over the period 1970 to 199
结束语:本文的写作目的是,利用罗斯和耶伦的“部分简化模式”,基于两国不完美的替代模式,探究1970到1996年新加坡和美国双边贸易差额和汇率的关系问题.尽管加元在一段时期内出现名义上和实质上的升值,但是出口增长总额仍然保持活跃上涨趋势,因此新加坡队对这个问题十分关注.结论表明,汇率并没有对美加两国的双边贸易差额产生重大的影响,我们几乎找不到J曲线效应的痕迹.尽管出口与汇率滞后值正相关,表明美元出口的“小国定价”政策,但是,
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