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The Value of the "Southern" Dollar

Author

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  • Don P. Clark

    (University of Tennessee)

  • W. Charles Sawyer

    (University of Southern Mississippi)

  • Richard L. Sprinkle

    (University of Texas-El Paso)

Abstract

This paper constructs a trade-weighted regional exchange rate index for the Southern states and compares it to a similar index comprising the rest of the United States. Results indicate there are nontrivial differences between them. The two indexes are not cointegrated, and the index comprising the rest of the United States does not appear to be causing movements in the Southern dollar. In an international trade sense, the South is still distinctive. Researchers investigating how exchange rate changes affect regional exports and economic growth should be cautious in making inferences based upon a national exchange rate index.

Suggested Citation

  • Don P. Clark & W. Charles Sawyer & Richard L. Sprinkle, 1997. "The Value of the "Southern" Dollar," The Review of Regional Studies, Southern Regional Science Association, vol. 27(2), pages 185-193, Fall.
    • Handle: RePEc:rre:publsh:v:27:y:1997:i:2:p:185-193
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    References listed on IDEAS

    as
    1. W. Michael Cox, 1986. "A new alternative trade-weighted dollar exchange rate index," Economic and Financial Policy Review, Federal Reserve Bank of Dallas, issue Sep, pages 20-28.
    2. Stock, James H & Watson, Mark W, 1988. "Variable Trends in Economic Time Series," Journal of Economic Perspectives, American Economic Association, vol. 2(3), pages 147-174, Summer.
    3. Jeffrey A. Rosensweig, 1987. "Constructing and using exchange rate indexes," Economic Review, Federal Reserve Bank of Atlanta, issue Sum, pages 4-16.
    4. Johansen, Soren, 1991. "Estimation and Hypothesis Testing of Cointegration Vectors in Gaussian Vector Autoregressive Models," Econometrica, Econometric Society, vol. 59(6), pages 1551-1580, November.
    5. Coughlin, Cletus C & Fabel, Oliver, 1988. "State Factor Endowments and Exports: An Alternative to Cross-Industry Studies," The Review of Economics and Statistics, MIT Press, vol. 70(4), pages 696-701, November.
    6. Deyak, Timothy A & Sawyer, W Charles & Sprinkle, Richard L, 1989. "An Empirical Examination of the Structural Stability of Disaggregated U.S. Import Demand," The Review of Economics and Statistics, MIT Press, vol. 71(2), pages 337-341, May.
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    Cited by:

    1. Thomas M. Fullerton & Roberto Coronado, 2001. "Restaurant Prices and the Mexican Peso," Southern Economic Journal, John Wiley & Sons, vol. 68(1), pages 145-155, July.

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