Trade effects of exchange rate fluctuations: Evidence from Sweden

An overview of the theoretical literature for the last two decades suggests that there is no clear-cut relationship one can pin down between exchange rate volatility and trade flows. Analytical results are based on specific assumptions and only hold in certain cases. Especially, the impact of exchange rate volatility on export and import activity investigated separately leads also to dissimilar conclusions among countries studied. The general presumption is that an increase in exchange rate volatility will have an adverse effect on trade flows and consequently, the overall heath of the world economy. However, neither theoretical models nor empirical studies provide us with a definitive answer, leaving obtained results highly ambiguous and inconsistent (Baum and Caglayan, 2006). We purposed to empirically investigate trade effects of exchange rate fluctuations in Sweden from the perspective of export and import in this research. The data comprises period from January 1993 to December 2006, where export and import volumes are considered from the point of their determinants, including exchange rate volatility, which has been measured through EGARCH model. The results for the case of Sweden show that short run dynamics of volatility negatively associated with both export and import, whereas considered from the case of previous period volatility it exhibits positive relationship. These results are consistent with the most findings of prior studies, where the relationship remained ambiguous.

The functions of Japanese Sound Symbolic Words in Different Types of Texts and Their Translation

Though sound symbolic words (onomatopoeia and mimetic words, or giongo and gitaigo in Japanese) exist in other languages, it would not be so easy to compare them to those in Japanese. This is because unlike in Japanese, in many other languages (here we see English and Spanish) sound symbolic words do not have distinctive forms that separate them immediately from the rest of categories of words. In Japanese, a sound symbolic word has a radical (that is based on the elaborated Japanese sound symbolic system), and often a suffix that shows subtle nuance. Together they give the word a distinctive form that differentiates it from other categories of words, though its grammatical functions could vary, especially in the case of mimetic words (gitaigo). Without such an obvious feature, in other languages, it would not be always easy to separate sound symbolic words from the rest. These expressions are extremely common and used in almost all types of text in Japanese, but their elaborated sound symbolic system and possibly their various grammatical functions are making giongo and gitaigo one of the most difficult challenges for the foreign students and translators. Studying the translation of these expressions into other languages might give some indication related to the comparison of Japanese sound symbolic words and those in other languages. Though sound symbolic words are present in many types of texts in Japanese, their functions in traditional forms of text (letters only) and manga (Japanese comics)are different and they should be treated separately. For example, in traditional types of text such as novels, the vast majority of the sound symbolic words used are mimetic words (gitaigo) and most of them are used as adverbs, whereas in manga, the majority of the sound symbolic words used (excluding those appear within the speech bubbles) are onomatopoeias (giongo) and often used on their own (i.e. not as a part of a sentence). Naturally, the techniques used to translate these expressions in the above two types of documents differ greatly. The presentation will focus on i) grammatical functions of Japanese sound symbolic words in traditional types of texts (novels/poems) and in manga works, and ii) whether their features and functions are maintained (i.e. whether they are translated as sound symbolic words) when translated into other languages (English and Spanish). The latter point should be related to a comparison of sound symbolic words in Japanese and other languages, which will be also discussed.