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 economic impact of sports mega-events : The case study of the FIS Nordic World Ski Championship Falun 2015

Since the second half of 1990s, the economic impact of sports mega-events concerned the researchers, the public and the professionals. The investment of public funds and the effects on several sectors of the economy motivate the economic impact studies. The economic impact of the FIS Nordic World Ski Championship Falun 2015 to the region of Dalarna is the topic of this thesis. This requires the calculation of direct, indirect and induced economic impact. Within the analysis, data from a questionnaire survey conducted on seven different days during the event are used. The final sample of the analysis contains 893 observations. The segmentation approach was applied for the calculations and the visitors were classified regarding their choice of accommodation. The regional economic impact is calculated at 321 M SEK and the employment effect on the tourism sector is estimated. However, the lack of information limits the study. The analysis could be extended with an accurate investigation of certain issues. Further, the impact of the event should be estimated from all the perspectives. The organization of sports mega-events creates tangible and intangible effects to the host-city. The thesis reviews literature on the economic impact studies of sports mega-events. The results of the study can be used for a comprehensive analysis of the case study. Further, the professionals of the tourism and the event could be benefited.