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A Regional Export-Weighted Dollar: An Examination of the Regional Impact of Exchange Rate Change

Author

Listed:
  • Jack L. Hervey

    (Federal Reserve Bank of Chicago. PO. Box 834, Chicago, IL 60690-0834 USA, jhervey@frbchi.org)

  • William A. Strauss

    (Federal Reserve Bank of Chicago, PO. Box 834, Chicago, IL 60690-0834 USA, wstrausst@frbchi.org)

Abstract

Midwest manufacturing has experienced a resurgence in its competitiveness in export markets during the last decade. There is a widely held view that this increased competitiveness is importantly attributable to the depreciation in the foreign exchange value of the dollar. This article questions this view, in particular with regard to selected geographical regions of the United States. Based on the development of real regional export-weighted aggregate exchange rate indexes, this study finds that since 1988 Midwest exporters of manufactured goods, in the aggregate, have faced an appreciating (not depreciating) dollar.

Suggested Citation

  • Jack L. Hervey & William A. Strauss, 1998. "A Regional Export-Weighted Dollar: An Examination of the Regional Impact of Exchange Rate Change," International Regional Science Review, , vol. 21(1), pages 79-98, April.
    • Handle: RePEc:sae:inrsre:v:21:y:1998:i:1:p:79-98
    DOI: 10.1177/016001769802100104
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    References listed on IDEAS

    as
    1. Susan Hickok, 1991. "The shifting composition of U.S. manufactured goods trade," Quarterly Review, Federal Reserve Bank of New York, vol. 16(Spr), pages 27-37.
    2. Jack L. Hervey & William A. Strauss, 1996. "A regional export-weighted dollar: a different way of looking at exchange rate changes," Assessing the Midwest Economy GL-2, Federal Reserve Bank of Chicago.
    3. Jack L. Hervey, 1990. "Changing U.S. trade patterns," Economic Perspectives, Federal Reserve Bank of Chicago, vol. 14(Mar), pages 2-12.
    4. Jack L. Hervey & William A. Strauss, 1987. "The international value of the dollar: an inflation-adjusted index," Economic Perspectives, Federal Reserve Bank of Chicago, vol. 11(Jan), pages 17-28.
    5. Jack L. Hervey & William A. Strauss, 1987. "Technical correction: the inflation-adjusted index of the dollar," Economic Perspectives, Federal Reserve Bank of Chicago, vol. 11(Mar), pages 29-31.
    6. Susan Hickok & James A. Orr, 1989. "Shifting patterns of U.S. trade with selected developing Asian economies," Quarterly Review, Federal Reserve Bank of New York, vol. 14(Win), pages 36-47.
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    Cited by:

    1. Jack L. Hervey & William A. Strauss, 1998. "Foreign growth, the dollar, and regional economies, 1970-97," Economic Perspectives, Federal Reserve Bank of Chicago, vol. 22(Q IV), pages 35-55.
    2. Westlund, Hans & Johansson, Magnus & Molinder, Jonas, 2000. "Exchange Rate Sensitivity Of Swedish Regions," ERSA conference papers ersa00p140, European Regional Science Association.
    3. Cletus C. Coughlin & Patricia S. Pollard, 1998. "Constructing and using national and regional TWEXs: the case for chaining," Working Papers 1998-012, Federal Reserve Bank of St. Louis.
    4. Cletus C. Coughlin & Eran Segev, 2000. "Location Determinants of New Foreign‐Owned Manufacturing Plants," Journal of Regional Science, Wiley Blackwell, vol. 40(2), pages 323-351, May.
    5. Kiril Tochkov, 2021. "Regional real exchange rates and growth: Evidence from resource‐based regional economies," Review of International Economics, Wiley Blackwell, vol. 29(3), pages 626-640, August.

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