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Net foreign assets and real exchange rates revisited (2014)
Journal Article
Bleaney, M., & Tian, M. (2014). Net foreign assets and real exchange rates revisited. Oxford Economic Papers, 66(4), https://doi.org/10.1093/oep/gpu014

Theory suggests a significant positive relationship in long-run equilibrium between the net foreign assets (NFA) of a country and its real exchange rate. Empirical tests have ignored two issues: the large variation in cross-country trade/GDP ratios,... Read More about Net foreign assets and real exchange rates revisited.

Exchange Rates and Trade Balance Adjustment: A Multi-Country Empirical Analysis (2014)
Journal Article
Bleaney, M., & Tian, M. (2014). Exchange Rates and Trade Balance Adjustment: A Multi-Country Empirical Analysis. Open Economies Review, 25(4), 655-675. https://doi.org/10.1007/s11079-014-9310-3

This study assesses the response of the trade balance to exchange rate fluctuations across a large number of countries. Fixed-effects regressions are estimated for three country groups (industrial, developing and emerging markets) on annual data for... Read More about Exchange Rates and Trade Balance Adjustment: A Multi-Country Empirical Analysis.