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Author : Ahmed H. Mohamed
Publisher :
ISBN 13 :
Total Pages : 56 pages
Book Rating : 4.:/5 (232 download)
Download or read book The Impact of Domestic Market Structure on Exchange Rate Pass-through written by Ahmed H. Mohamed and published by . This book was released on 1990 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mohamed
Publisher :
ISBN 13 :
Total Pages : 56 pages
Book Rating : 4.:/5 (99 download)
Download or read book The Impact of Domestic Market Structure on Exchange Rate Pass-through written by Mohamed and published by . This book was released on 1990 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Ehsan U. Choudhri
Publisher : International Monetary Fund
ISBN 13 : 1475510233
Total Pages : 34 pages
Book Rating : 4.4/5 (755 download)
Download or read book The Exchange Rate Pass -Through to Import and Export Prices written by Ehsan U. Choudhri and published by International Monetary Fund. This book was released on 2012-09-01 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using both regression- and VAR-based estimates, the paper finds that the exchange rate pass-through to import prices for a large number of countries is incomplete and larger than the pass-through to export prices. Previous studies have reported similar results, which give rise to the puzzle that while local currency pricing is needed to account for incomplete import price pass-through, it would not imply a lower export price pass-through. Recent explanations of this puzzle have emphasized markup adjustment in response to exchange rate changes. This paper suggests an alternative explanation based on the presence of both producer and local currency pricing. Using a dynamic general equilibrium model, the paper shows that a mix of producer and local currency pricing can explain the pass-through evidence even with a constant markup. The model can also explain the observed exchange rate and inflation variability as well as the fact that the regression and VAR estimates tend to be similar.
Author : Ahmed H. Mohamed
Publisher :
ISBN 13 :
Total Pages : 56 pages
Book Rating : 4.:/5 (787 download)
Download or read book The Impact of Domestic Structure on Exchange Rate Pass-through written by Ahmed H. Mohamed and published by . This book was released on 1990 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Stephen Martin
Publisher :
ISBN 13 :
Total Pages : 52 pages
Book Rating : 4.:/5 (318 download)
Download or read book Product Differentiation, Market Structure and Exchange Rate Passthrough written by Stephen Martin and published by . This book was released on 1993 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Raphael Auer
Publisher :
ISBN 13 :
Total Pages : 51 pages
Book Rating : 4.:/5 (912 download)
Download or read book Market Structure and Exchange Rate Pass-through written by Raphael Auer and published by . This book was released on 2015 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study firm-level pricing behavior through the lens of exchange rate pass-through and provide new evidence on how firm-level market shares and price complementarities affect pass-through decisions. Using micro-data from U.S. import prices, we identify two facts: First, exactly the firms that react the most with their prices to changes in their own costs are also the ones that react the least to changing competitor prices. Second, the response of import Prices to exchange rate changes is U-shaped in market share while it is hump-shaped in response to competitor prices. We show that both facts are consistent with a model based on Dornbusch (1987) that generates variable markups through a nested-CES demand system. Finally, based on the model, we find that direct cost pass-through and price complementarities play approximately equally important roles in determining pass-through but also partly offset each other. This suggests that equilibrium feedback effects in pricing are large. Omission of either channel in an empirical analysis results in a failure to explain how market structure affects price-setting in industry equilibrium.
Author : A. P. Kirman
Publisher :
ISBN 13 :
Total Pages : 36 pages
Book Rating : 4.F/5 ( download)
Download or read book Exchange Rate Pass-through and Market Structure written by A. P. Kirman and published by . This book was released on 1992 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1451961391
Total Pages : 24 pages
Book Rating : 4.4/5 (519 download)
Download or read book Exchange Rate Fluctuations, Pass-Through, and Market Share written by International Monetary Fund and published by International Monetary Fund. This book was released on 1989-09-05 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: When the exchange rate fluctuates and the market exhibits hysteresis, planning horizons of domestic and foreign competitors will matter in determining pass-through as well as relative market shares of these firms. Using the Cournot duopoly model, it is shown that if the foreign exporter is a long-term maximizer relative to the domestic firm, pass-through will be lower and average export penetration higher than otherwise.
Author : Kanda Naknoi
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (931 download)
Download or read book Exchange Rate Pass-through and Market Structure in a Multi-country World written by Kanda Naknoi and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Inĩgo Herguera
Publisher :
ISBN 13 :
Total Pages : 31 pages
Book Rating : 4.:/5 (719 download)
Download or read book Exchange rate fluctuations, market structure and the pass-through relationship written by Inĩgo Herguera and published by . This book was released on 1993 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Ramarao Desiraju
Publisher :
ISBN 13 :
Total Pages : 54 pages
Book Rating : 4.0/5 ( download)
Download or read book Exchange Rate Pass-through and the Role of International Distribution Channels written by Ramarao Desiraju and published by . This book was released on 1996 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Michael B. Devereux
Publisher :
ISBN 13 :
Total Pages : 60 pages
Book Rating : 4.:/5 (318 download)
Download or read book Exchange Rate Pass-through, Exchange Rate Volatility, and Exchange Rate Disconnect written by Michael B. Devereux and published by . This book was released on 2002 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores the hypothesis that high volatility of real and nominal exchange rates may be due to the fact that local currency pricing eliminates the pass-through from changes in exchange rates to consumer prices. Exchange rates may be highly volatile because in a sense they have little effect on macroeconomic variables. The paper shows the ingredients necessary to construct such an explanation for exchange rate volatility. In addition to the presence of local currency pricing, we need a) incomplete international financial markets, b) a structure of international pricing and product distribution such that wealth effects of exchange rate changes are minimized, and c) stochastic deviations from uncovered interest rate parity. Together, it is shown that these elements can produce exchange rate volatility that is much higher than shocks to economic fundamentals, and `disconnected' from the rest of the economy in the sense that the volatility of all other macroeconomic aggregates are of the same order as that of fundamentals.
Author : Ila Patnaik
Publisher : International Monetary Fund
ISBN 13 : 1455211834
Total Pages : 27 pages
Book Rating : 4.4/5 (552 download)
Download or read book Monetary Policy Transmission in an Emerging Market Setting written by Ila Patnaik and published by International Monetary Fund. This book was released on 2011-01-01 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: Some emerging economies have a relatively ineffective monetary policy transmission owing to weaknesses in the domestic financial system and the presence of a large and segmented informal sector. At the same time, small open economies can have a substantial monetary policy transmission through the exchange rate channel. In order to understand this setting, we explore a unified treatment of monetary policy transmission and exchangerate pass-through. The results for an emerging market, India, suggest that the most effective mechanism through which monetary policy impacts inflation runs through the exchange rate.
Author : Peter B. Clark
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 46 pages
Book Rating : 4.:/5 (318 download)
Download or read book Exchange Rate Volatility, Pricing to Market and Trade Smoothing written by Peter B. Clark and published by International Monetary Fund. This book was released on 1997-10 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the consequences of exchange rate volatility on the variability of export prices and quantities in the presence of market segmentation and pricing to market. Firms stabilize destination prices through systematic price discrimination, limiting the degree of exchange rate pass-through. Consequently, the variability of exchange rates is not fully translated into prices and quantities at the point of destination. Empirical estimates using aggregate price data for the G-7 industrial countries show incomplete pass-through in variances, with considerable variation among these countries. U.S. industry specific data also indicate incomplete pass-through in most cases, with considerable variation across industries.
Author : Alan P. Kirman
Publisher :
ISBN 13 :
Total Pages : 19 pages
Book Rating : 4.:/5 (733 download)
Download or read book Exchange rate pass-through and market structure written by Alan P. Kirman and published by . This book was released on 1992 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mr. Yan Carriere-Swallow
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 83 pages
Book Rating : 4.4/5 (2 download)
Download or read book State-Dependent Exchange Rate Pass-Through written by Mr. Yan Carriere-Swallow and published by International Monetary Fund. This book was released on 2023-04-28 with total page 83 pages. Available in PDF, EPUB and Kindle. Book excerpt: We estimate how the rate of pass-through from the exchange rate to domestic prices varies across states of the economy and depending on the shocks that drive fluctuations in the exchange rate. We confirm several results from the literature and uncover new facts. Drawing on the experience of a large sample of advanced and emerging market economies over the past 30 years, we document that exchange rate pass-through significantly larger during periods of high inflation and elevated uncertainty. Using a novel identification strategy, we also show that pass-through is higher when exchange rate fluctuations are driven by U.S. monetary policy.
Author : Kenneth Froot
Publisher :
ISBN 13 :
Total Pages : 32 pages
Book Rating : 4.:/5 (181 download)
Download or read book Exchange Rate Pass-through when Market Share Matters written by Kenneth Froot and published by . This book was released on 1988 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: We investigate pricing to market when the exchange rate changes in cases where firms' future demands depend on their current market shares. We show that i) profit maximizing foreign firms may either raise or lower their domestic currency export prices when the domestic exchange rate appreciates temporarily (i.e. the "pass-through" from exchange rate changes to import prices may be perverse); ii) current import prices may be more sensitive to the expected future exchange rate than to the current exchange rate; iii) current import prices fall in response to an increase in uncertainty about the future exchange rate. We present evidence that suggests the behavior of expected future exchange rates may provide a clue to the puzzling behavior of U.S. import prices during the 1980s
