Analysis of time series for Malaysian currency exchange rate to the United States currency

2021 ◽  
Author(s):  
Ting Heng Sheng ◽  
Mohd Saifullah Rusiman ◽  
Norziha Che Him ◽  
Suliadi Firdaus Sufahani ◽  
Efendi Nasibov
Keyword(s):  
United States ◽  
Time Series ◽  
Exchange Rate ◽  
The United States ◽  
Currency Exchange ◽  
Currency Exchange Rate ◽  
Analysis Of Time Series

scholarly journals Does an undervalued currency merit economic growth?: Evidence from Taiwan

2012 ◽  
Vol 59 (1) ◽  
pp. 37-57
Author(s):  
Ho-Don Yan ◽  
Cheng-Lang Yang
Keyword(s):  
United States ◽  
Economic Growth ◽  
Exchange Rate ◽  
The United States ◽  
Var Model ◽  
Sustained Development ◽  
The Third ◽  
Currency Exchange ◽  
Currency Exchange Rate ◽  
Exchange Rate Misalignment

Whether an undervalued currency is an attainable industrial policy for developing countries? sustained development has recently invoked many discussions. This paper studies the case of Taiwan after first determining the misalignment of Taiwan?s currency by estimating the fundamental equilibrium real exchange rate. Three sub-periods for Taiwan?s currency exchange rate misalignment are identified: undervaluation in the periods 1981-1986 and 1998- 2008 and overvaluation during 1987-1997. Second, we use a vector autoregression (VAR) model to examine the Granger causality between exchange rate misalignment and GDP, by incorporating export and investment variables. The evidence shows that exchange rate misalignment does Granger cause GDP and it mainly comes from the third sub-period when the Taiwan dollar was undervalued. From past experience and the current economic doldrums of the last resort of global exports - the United States - currency undervaluation is not a validated strategy upon which emerging markets can wishfully impinge.

The Currency Exchange Rate Provisions of the Proposed Amended Articles of Agreement of the International Monetary Fund

1976 ◽  
Vol 70 (4) ◽  
pp. 722-762 ◽  
Author(s):  
Richard W. Edwards
Keyword(s):  
United States ◽  
Exchange Rate ◽  
International Monetary Fund ◽  
The United States ◽  
Member States ◽  
Currency Exchange ◽  
Second Amendment ◽  
Board Of Governors ◽  
Currency Exchange Rate ◽  
The International Monetary Fund

A comprehensive amendment to the constitutional instrument of the International Monetary Fund has been submitted to the 128 member states of that organization for their acceptance in order that it may enter into force. The “Proposed Second Amendment” to the Articles of Agreement of the International Monetary Fund was approved by the IMF’s Board of Governors on April 30, 1976. In the United States and many other countries the amendment will, in accordance with internal law, be submitted to appropriate legislative bodies for consent to acceptance.

Offshoring as an Ethical Issue

2006 ◽  
pp. 89-106
Author(s):  
Robert A. Schultz
Keyword(s):  
United States ◽  
Market Economy ◽  
Ethical Issue ◽  
Ethical Problem ◽  
The United States ◽  
Social Contexts ◽  
Currency Exchange ◽  
Currency Exchange Rate ◽  
The People ◽  
Work Done

Removal of jobs from one country to another to exploit lower paid workers tends to raise objections from those whose jobs are removed. However, historically, such jobs have tended to be low-wage, low-skill jobs, and the people holding them have typically not been able to mount effective resistance. Recently, highly skilled, highly paid IT jobs have begun to be exported from the United States, and although some of the questions raised are the same as for the earlier low-wage jobs, there are some different considerations. What are the relevant ethical considerations involved in exporting jobs to exploit lower wages? In certain circumstances, there seems to be nothing wrong with this practice. If, for example, the currency exchange rate makes work done in the U.S. cheaper than work done in France, but otherwise the standards of living of the workers in the two countries are comparable, it is hardto see an ethical issue here. This seems to be a form of arbitrage on labor prices. “Arbitrage” is defined as buying the currently relatively low-priced commodity and selling the currently relatively high-priced commodity in the expectation that the market will correct one or both prices. In liquid markets, it serves a scavenger function to even out price disparities. For example, New York-London gold arbitrage is a recognized function performed by some firms. They buy the cheaper gold and sell it into the more expensive market. The net effect is to reduce or eliminate price disparities. It is a sort of benign communication function in a market economy, helping to even out prices consistently throughout markets. Although offshoring has some of the features of arbitrage, it does not seem to have all the relevant features that make arbitrage a benign, healthy function of a market economy. The most important difference is that the “commodity” subject to arbitrage in offshoring is labor. In a true arbitrage situation, the commodity’s location does not change the nature of the commodity, and this is why price differences in gold are simply fluctuations due to market functioning. But it makes a big difference where labor is located. The whole point of offshoring jobs is precisely that we don’t want to move laborers from India or China to the United States, because then we would have to pay them prevailing U.S. wages. For offshoring to work, we must take advantage of a social context with prevailing lower wages. Offshoring is in fact a new ethical problem brought about by the availability-at-any-location feature of information technology. By the use of IT, we can take advantage of social contexts with prevailing lower wages when the relevant features of the job can be performed great distances away.

Exchange rates, Canadian lumber imports, and United States prices: a time-series analysis

1988 ◽  
Vol 18 (12) ◽  
pp. 1587-1594 ◽  
Author(s):  
Joseph Buongiorno ◽  
Jean-Paul Chavas ◽  
Jussi Uusivuori
Keyword(s):  
United States ◽  
Time Series ◽  
Exchange Rate ◽  
Time Series Analysis ◽  
The United States ◽  
Monthly Data ◽  
Softwood Lumber ◽  
The Past ◽  
Series Analysis

Softwood lumber imports by the United States from Canada more than doubled during the past 10 years. The objective of this paper was to investigate two possible reasons for this change: (i) the increase in value of the U.S. dollar relative to the Canadian dollar, and (ii) the rise in the price of softwood lumber in the United States. The method used was time-series analysis, leading to measures of feedback and long-term multipliers between imports, exchange rate, and U.S. price. The results, based on monthly data from January 1974 to January 1986, suggested that 68% of the rise in Canadian imports during this period was due to the rise in the price of softwood lumber in the United States. The exchange rate, however, was not found to have a significant effect on imports. The findings also indicate that the increase in imports has not led to a decline in the price received by U.S. producers.

Sign in / Sign up

Export Citation Format

Share Document