Exchange rate uncertainty, UK trade and the euro

Charalambos Pattichis, Chongcheul Cheong, Tesfa Mehari and Leighton Vaughan Williams ()

Applied Financial Economics, 2004, vol. 14, issue 12, pages 885-893

Abstract: The impact of exchange rate uncertainty on the disaggregated imports of the UK is investigated by focusing on 15 major manufacturing categories. Contrary to several previous theoretical and empirical studies, this paper finds no evidence that exchange rate uncertainty has a positive impact on international trade. An important implication of this study for UK macroeconomic policy is that adoption of the euro would have, in terms of its effect on exchange rate risk, a positive impact on the country's trade and economic welfare.

Date: 2004
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