Understanding Exchange Rate and Reserve Management in India

Rajan, Ramkishen S.; Yanamandra, Venkataramana

doi:10.1057/9781137534149_3

Managing the Macroeconomy 2015

DOI: 10.1057/9781137534149_3

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Understanding Exchange Rate and Reserve Management in India

Ramkishen S. Rajan

Venkataramana Yanamandra

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2020

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“…1.If the prices still remain sticky or sluggish, currency depreciation should result in the price competitiveness boost by making the foreign goods relatively more expensive than import substitutes and thereby improves the trade balance following the initial deterioration (Rajan & Yanamandra, 2015). …”

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Impact of Exchange Rate Changes on the Trade Balance of India: An Asymmetric Nonlinear Cointegration Approach

Bhat

2020

Foreign Trade Review

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Applying an asymmetric model, the study reported no evidence of J-curve phenomenon in case of India. In the short-run currency appreciation deteriorates the trade balance and currency depreciation improves it. In the long-run, again the similar response is observed, however, only the impact of currency depreciation is statistically significant. Increase in domestic demand deteriorates the trade balance by a greater magnitude than improvement is observed due to the decline in domestic demand conditions. Finally, foreign demand hike improves the trade balance relatively by a higher magnitude; however, the impact of a foreign demand decline is statistically insignificant. JEL Codes: F4, F41, F42

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confidence: 99%

Impact of Exchange Rate Changes on the Trade Balance of India: An Asymmetric Nonlinear Cointegration Approach

Bhat

2020

Foreign Trade Review

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Understanding Exchange Rate and Reserve Management in India

Cited by 1 publication

References 30 publications

Impact of Exchange Rate Changes on the Trade Balance of India: An Asymmetric Nonlinear Cointegration Approach

Impact of Exchange Rate Changes on the Trade Balance of India: An Asymmetric Nonlinear Cointegration Approach

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