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ID: 105076

China's share of US imports and exchange rate pass-through to U / Zhou, Jianhuan; Kim, Donghun

Kim, Donghun	Journal Article
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2011.

Summary/Abstract

The present paper investigates the effect of China's share of US imports on the aggregate-level exchange rate pass-through to US import prices over the period from January 1999 to December 2008. The paper also focuses on the post-reform period, after 2005, allowing greater flexibility of the RMB to explore the change in the role of the Chinese import share in determining the trend in the US exchange rate pass-through. Evidence reveals that China's share of US imports has a negative effect on the exchange rate pass-through. However, this negative effect has been moderated to a negligible level since China's exchange rate reform. An important implication is that the exchange rate flexibility of the RMB has been raised to a significant level may no longer cause distortion in the US competitive environment and prevent the USA from adjusting current accounts.

Key Words

China ; Imports ; Exchange Rate ; Exchange Rate Pass-Through ; China's Share ; US Import Prices

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ID: 078769

Determinants of inbound tourism in Laos / Phakdisoth, Latsany; Kim, Donghun

Phakdisoth, Latsany	Journal Article
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Publication

2007.

Summary/Abstract

This paper specifies static and dynamic panel demand models for tourism in Laos and estimates tourism demand equations using tourist inflow data for the period 1995-2004. The models allow us to estimate the short- and long-run effects of tourism determinants. We find that communication and transportation infrastructure, destination risk, bilateral trade, and distance between Laos and countries of origin are, in the long run, among the main determinants of tourism to Laos. In particular, we find that tourism to Laos is income and price inelastic. This suggests that tourism to Laos is not a luxury good. The results of dynamic models indicate that relative price and infrastructure are more important determinants than income in the short-run adjustment of tourist inflow

Key Words

Tourism - Laos ; Laos - Social Conditions ; Laos - Economic Eonditions

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