How Long to Read Dominant Currency Paradigm: A New Model for Small Open Economies

How Long Does it Take to Read Dominant Currency Paradigm: A New Model for Small Open Economies?

It takes the average reader 1 hour and 2 minutes to read Dominant Currency Paradigm: A New Model for Small Open Economies by Camila Casas

Assuming a reading speed of 250 words per minute. Learn more

Description

Most trade is invoiced in very few currencies. Despite this, the Mundell-Fleming benchmark and its variants focus on pricing in the producer’s currency or in local currency. We model instead a ‘dominant currency paradigm’ for small open economies characterized by three features: pricing in a dominant currency; pricing complementarities, and imported input use in production. Under this paradigm: (a) the terms-of-trade is stable; (b) dominant currency exchange rate pass-through into export and import prices is high regardless of destination or origin of goods; (c) exchange rate pass-through of non-dominant currencies is small; (d) expenditure switching occurs mostly via imports, driven by the dollar exchange rate while exports respond weakly, if at all; (e) strengthening of the dominant currency relative to non-dominant ones can negatively impact global trade; (f) optimal monetary policy targets deviations from the law of one price arising from dominant currency fluctuations, in addition to the inflation and output gap. Using data from Colombia we document strong support for the dominant currency paradigm.

How long is Dominant Currency Paradigm: A New Model for Small Open Economies?

Dominant Currency Paradigm: A New Model for Small Open Economies by Camila Casas is 62 pages long, and a total of 15,624 words.

This makes it 21% the length of the average book. It also has 19% more words than the average book.

How Long Does it Take to Read Dominant Currency Paradigm: A New Model for Small Open Economies Aloud?

The average oral reading speed is 183 words per minute. This means it takes 1 hour and 25 minutes to read Dominant Currency Paradigm: A New Model for Small Open Economies aloud.

What Reading Level is Dominant Currency Paradigm: A New Model for Small Open Economies?

Dominant Currency Paradigm: A New Model for Small Open Economies is suitable for students ages 8 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

Where Can I Buy Dominant Currency Paradigm: A New Model for Small Open Economies?

Dominant Currency Paradigm: A New Model for Small Open Economies by Camila Casas is sold by several retailers and bookshops. However, Read Time works with Amazon to provide an easier way to purchase books.

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