The Dollar in the U.S. International Transactions (USIT) Model
The Dollar in the U.S. International Transactions (USIT) Model
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美国国际交易 (USIT) 模型中的美元
DOI：
10.17016/2573-2129.16
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发表时间：
2016
期刊：
影响因子：
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通讯作者：
Robert J. Vigfusson
中科院分区：
文献类型：
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作者：
Joseph W. Gruber;A. McCallum;Robert J. Vigfusson
自 2014 年中期以来，美元兑多种外币指数上涨了 20%，这导致人们越来越关注美元波动如何影响美国经济。本说明提供了有关 USIT 模型贸易块的结构和估计的更多详细信息。在该模型中，我们估计了美元升值 10% 对美国贸易流量和贸易价格的影响。最后，我们评估了自 2014 年夏季美元开始大幅升值以来该模型的表现。
The dollar's 20 percent climb against a broad index of foreign currencies since the middle of 2014 has led to an increased focus on how dollar fluctuations affect the U.S. economy. This note provides further detail on the structure and estimation of the trade block of the USIT model. In the context of the model, we present the estimated effect of a 10 percent dollar appreciation on U.S. trade flows and trade prices. We conclude with an assessment of the model's performance since the dollar began its steep appreciation in the summer of 2014.