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The challenges ahead

Remarks at the Center for the New Economy 2010 Economic Conference, San Juan, Puerto Rico.
Speech , Paper 15

The road to recovery: Puerto Rico and the mainland

Remarks at E-3 Summit of the Americas: Export Trade Basics Forum 101, San Juan, Puerto Rico.
Speech , Paper 50

Prospects for the economy and monetary policy

Remarks at New York University's Stern School of Business, New York City.
Speech , Paper 45

Economic overview: Queens and the region

Remarks at Queens Chamber of Commerce and Queens Economic Development Corporation, Flushing, New York City.
Speech , Paper 47

A strategy for the 2011 economic recovery

Remarks at Dominican College, Orangeburg, New York.
Speech , Paper 41

The nature and growth of vertical specialization in world trade

Dramatic changes are occurring in the nature of international trade. Production processes increasingly involve a sequential, vertical trading chain stretching across many countries, with each country specializing in particular stages of a good's production sequence. We document a key aspect of these vertical linkages--the use of imported inputs in producing goods that are exported -- which we call vertical specialization. Using input-output tables from the OECD and emerging market countries we estimate that vertical specialization accounts for up to 30 percent of world exports, and has grown ...
Staff Reports , Paper 72

Exchange rate pass-through, markups, and inventories

A large body of research has established that exporters do not fully adjust their prices across countries in response to exchange rate movements, but instead allow their markups to vary. But while markups are difficult to observe directly, we show in this paper that inventory-sales ratios provide an observable counterpart. We then find evidence that inventory-sales ratios of imported vehicles respond to exchange rate movements to a degree consistent with pass-through on the order of 50 to 75 percent, on the high end of the range found in the literature.
Staff Reports , Paper 584

The dynamics and differentiation of Latin American metal exports

This paper investigates the propensity of exporters in certain primary commodity sectors to innovate and then attempts to measure the associated gains. The high degree of differentiation in metal products is giving rise to the potential for vertical upgrading for a substantial portion of Latin American export sales. Estimation of a demand system for U.S. imports shows that relatively high-priced new varieties tend to gain market share, which suggests a correspondingly large increase in the relative quality of those varieties. Breaking down the types of metal products by order of their ...
Staff Reports , Paper 508

Border effects and the availability of domestic products abroad

Borders have a sizable negative impact on trade flows. Given the vast number of individual goods potentially traded, this "border effect" could have two possible explanations: (1) less international than domestic trade in the goods that are actually traded between countries ("flow"), or (2) differences between the sets of goods traded internationally and domestically--that is, fewer goods are available as exports than are sold in the home market ("availability"). Most of the previous literature on border effects has ignored the possible role of this second factor, instead ...
Staff Reports , Paper 127

The internationalization of the dollar and trade balance adjustment

The pattern of international trade adjustment is affected by the continuing international role of the dollar and related evidence on exchange rate pass-through to prices. This paper argues that a depreciation of the dollar would have asymmetric effects on flows between the United States and its trading partners. With low exchange rate pass-through to U.S. import prices and high exchange rate pass-through to the local prices of countries consuming U.S. exports, the effect of dollar depreciation on real trade flows is dominated by an adjustment in U.S. export quantities, which increase as U.S. ...
Staff Reports , Paper 255



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Coughlin, Cletus C. 14 items

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