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The effect of shipbuilding industry foreign exchange hedge on exchange rate, volatility of exchange rate and the policy implication  

Moon, Ho-Seong (한국은행 금융안정분석국)
Publication Information
Journal of Korea Port Economic Association / v.27, no.1, 2011 , pp. 235-245 More about this Journal
Abstract
This paper finds that business in the shipbuilding industry affects significantly the exchange rate and its variability. The effects of the amount of orders received and construction in the shipbuilding industry on the exchange rate and its variability are preemptive and long lasted. This implies that business cycles and the exchange rate hedge in the shipbuilding industry are important factors in understanding the exchange rate and its variability. Advancement in the technology of exchange rate hedge in future may reinforce the importance of business cycles in the shipbuilding industry. It is, therefore, required that the policy authority should monitor carefully the shipbuilding industry for the stability of foreign exchange market.
Keywords
Hedge; Exchange Rate; Volatility of Exchange Rate; Shipbuilding Industry; Impulse Response;
Citations & Related Records
Times Cited By KSCI : 2  (Citation Analysis)
연도 인용수 순위
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