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Vertical Product Differentiation And Exchange Rate Pass Through
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Book Synopsis Vertical Product Differentiation and Exchange Rate Pass-Through by : Dongmei Hu
Download or read book Vertical Product Differentiation and Exchange Rate Pass-Through written by Dongmei Hu and published by . This book was released on 2015 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, we investigate the impact of vertical product differentiation on exchange rate pass-through (ERPT). We define product vertical differentiation as a spectrum of products that range from high end to low end. Using a comprehensive dataset that includes highly disaggregated products traded between China and Japan from Jan 2000 to Dec 2008, we proxy product vertical differentiation with unit values of imports and exports and find that Japanese exports to China are more toward the high end while Chinese exports to Japan are more on the low end. Our further empirical tests show that exchange rate pass-through to Chinese Yuan selling prices of Japan imports is incomplete and is strongly affected by the degree of vertical differentiation. In particular, higher pass-through is observed where the vertical differentiation is larger between Japan import and China local-made, which suggests higher end Japan exporters are able to keep their Japanese Yen markup more stable.
Book Synopsis Product Differentiation, Market Structure and Exchange Rate Passthrough by : Stephen Martin
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:
Book Synopsis The Economic Theory of Product Differentiation by : John Beath
Download or read book The Economic Theory of Product Differentiation written by John Beath and published by Cambridge University Press. This book was released on 1991-02-28 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents economic theories that seek to explain the prevalence of differentiated products in market economies. It uses these theories to derive market equilibria and to compare these to social optima for both horizontally and vertically differentiated products. The implications of product differentiation for market structure and power, strategic entry deterrence and international trade are all examined.
Book Synopsis Vertical Product Differentiation by : Stephen Martin
Download or read book Vertical Product Differentiation written by Stephen Martin and published by . This book was released on 1993 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Product Differentiation, Market Structure and Exchange Rate Passtrough by : Stephen Martin
Download or read book Product Differentiation, Market Structure and Exchange Rate Passtrough written by Stephen Martin and published by . This book was released on 1993 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Vertical Product Differentiation and Entry Difference by : Stefan Lutz
Download or read book Vertical Product Differentiation and Entry Difference written by Stefan Lutz and published by . This book was released on 1996 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Vertical Product Differentiation and the Import Demand Function by : James R. Malley
Download or read book Vertical Product Differentiation and the Import Demand Function written by James R. Malley and published by . This book was released on 2000 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Pricing-to-Market by : Nathalie Lavoie
Download or read book Pricing-to-Market written by Nathalie Lavoie and published by . This book was released on 2006 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We employ a vertical differentiation model to examine the potential bias in pricing-to-market (PTM) results when using unit values aggregating differentiated products. Our results show that: i) false evidence of PTM ("pseudo PTM") is always found when using unit values, whether the law of one price holds or not; and ii) the extent to which results are biased due to pseudo PTM increases with the level of product differentiation. Correspondingly, our simulation results suggest that: i) it is possible to get a statistically significant estimate of the exchange rate coefficient, even when there is no real PTM; ii) the probability of a false PTM finding increases with product differentiation. Pseudo PTM is the result of a change in the mix of qualities imported when the exchange rate changes.
Book Synopsis Vertical product differentiation and North-South trade by : Harry Flam
Download or read book Vertical product differentiation and North-South trade written by Harry Flam and published by . This book was released on 1987 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Product Differentiation and Cost Pass-Through by : Thomas Bittmann
Download or read book Product Differentiation and Cost Pass-Through written by Thomas Bittmann and published by . This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the impact of product differentiation on firm-specific and industry-wide cost pass-through in grocery retailing. We use attribute distance measures to model product differentiation based on a unique set of retail scanner data for ready-to-eat soup products in the Canadian market. Results from a panel error correction model suggest that product differentiation explains a significant share of the variation in the rate of cost pass-through across products. More differentiated products are associated with lower rates of cost pass-through of industry-wide and higher pass-through of firm-specific costs shocks. The findings validate an oligopolistic model of product differentiation, where firms use differentiation as a non-price competitive factor in strategic pricing decisions.
Book Synopsis Heterogenous Consumers, Vertical Product Differentiation and the Rate of Innovation by : Josef Zweimüller
Download or read book Heterogenous Consumers, Vertical Product Differentiation and the Rate of Innovation written by Josef Zweimüller and published by . This book was released on 1996 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Vertical Product Differentiation in the Lab by : Adriana Alventosa
Download or read book Vertical Product Differentiation in the Lab written by Adriana Alventosa and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper revisits a vertically differentiated duopoly game where producers first simultaneously set qualities and then simultaneously set prices. We theoretically and experimentally explore the impact of different consumers' preferences dispersion levels. We find that firms suboptimally differentiate their products, specially when consumers' preferences dispersion is high and that, in both cases and in contrast with our theoretical prediction, there is a low-quality firm advantage.
Book Synopsis Vertical Product Differentiation and the Import Demand Function by : Jim Malley
Download or read book Vertical Product Differentiation and the Import Demand Function written by Jim Malley and published by . This book was released on 2004 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper we use a model of vertical product differentiation to cast doubt on the general validity of the import demand function as specified in macroeconomic models. The empirical importance of our theoretical concerns is then established. According to our first hypothesis, the share of a good's imports in total imports is non-increasing in domestic wages if the country has comparative advantage in high-quality varieties of this good. The second hypothesis states that the share of a good's imports is increasing in non-wage domestic income if the country has comparative advantage in high-quality varieties of this good.
Book Synopsis Essays on Vertical Product Differentiation by : Yong-Hwan Noh
Download or read book Essays on Vertical Product Differentiation written by Yong-Hwan Noh and published by . This book was released on 2005 with total page 218 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation explores models of heterogeneous product markets that rely on the "vertical product differentiation" formulation. The demand structure applied here is the covered-market configuration under the vertical product differentiation. With this specification, product market equilibria of the monopoly and duopoly market are derived. In particular, parameter restrictions on the degree of relative consumer heterogeneity associated with the covered-market setting are identified and used to interpret analytical results. Based on the specified demand structure, I revisit two industrial organization topics from the perspectives of vertical product differentiation. The first essay analyzes the entry of a new product into a vertically differentiated market where an entrant and an incumbent compete in prices. Many models on strategic entry deterrence deal with "limit quantities" as the established firm's strategic tool to deter or accommodate entry. Here, however, the entry-deterrence strategies of the incumbent firm rely on "limit qualities". With a sequential choice of quality, quality-dependent marginal production cost, and a fixed entry cost, I relate the entry-quality decision and the entry-deterrence strategies to the level of an entry cost and the degree of consumer heterogeneity. In particular, the incumbent influences the quality choice of the entrant by choosing its quality level before the entrant. This allows the incumbent to "limit" the entrant's entry decision and quality levels. Quality-dependent marginal production costs in the model entail the possibility of inferior-quality entry as well as the incumbent's aggressive entry-deterrence strategies by increasing its quality level towards potential entry. Welfare evaluation confirms that social welfare is not necessarily improved when entry is encouraged rather than deterred. The second essay is motivated by some specific economic questions that have arisen with the introduction of 'genetically modified' (GM) agricultural products. A duopoly market-entry model associated with the vertical product differentiation is developed to show how the existence of segregation costs biases the firm's quality choice behavior. Thus, the key factor of the model is the cost of segregation activities that are necessary to distinguish GM products from non-GM products. With an increasing and convex cost of quality, the model predicts that the entrant firm has an increased incentive to enter the market with a low-quality good to reduce production costs if segregation costs are sufficiently high. When consumers are homogeneous enough, however, entry may occur with the high-quality good.
Book Synopsis Heterogeneous Consumers, Vertical Product Differentiation and the Rate of Innovation by : Josef Zweimüller
Download or read book Heterogeneous Consumers, Vertical Product Differentiation and the Rate of Innovation written by Josef Zweimüller and published by . This book was released on 1996 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Three Essays Assessing Global Value Chain Fragmentation on International Trade Using the World Input-Output Database by : Johanna Retana Attoh
Download or read book Three Essays Assessing Global Value Chain Fragmentation on International Trade Using the World Input-Output Database written by Johanna Retana Attoh and published by . This book was released on 2016 with total page 169 pages. Available in PDF, EPUB and Kindle. Book excerpt: The growing fragmentation of supply chains across countries have changed the way nations engage in international trade. Conventionally, studies have used data on exports to measure trade flows; however, the use of this type of data imposes many assumptions that might misrepresent the real world. For instance, the assumption that the supply chain of a product is confined in only the domestic country does not take into consideration the increasing number of foreign inputs needed to produce a final good. In this dissertation, I use the World Input-Output Database (WIOD), since this dataset allows one to track and decompose the so-called global value chain (GVC) of a product. The first essay uses the WIOD to analyze the degree of competitiveness and integration of the manufacturing sector of Canada, Mexico, and the U.S. (North American countries--NAC) from 1995 to 2007. Competitiveness is the capacity of a country to increase its share of GVC income and GVC jobs. Greater integration with a region is defined as experiencing a growing rate of GVC income and GVC jobs from that specific region to meet domestic final demand of manufactured goods. I answer three main questions: (1) did the NAC lose global competitiveness in the manufacturing sector? This is ambiguous, since the manufacturing sector of NAC experienced a decrease in the share of GVC jobs, from 7.11% in 1995 to 5.79% in 2007. However, the share of labor income associated with those jobs increased. (2) Were the NAC successful at integrating with the ROW? Yes, the share of GVC jobs that the ROW contributed to the NAC manufacturing sector increased from 18.14% in 1995 to 29.66% in 2007; while the share of GVC labor income increased from 7.84% in 1995 to 9.60% in 2007. (3) Were the NAC successful at integrating with the region itself? No, the NAC have become less integrated with the NAC region itself. The second essay uses the WIOD to derive the exchange rate pass-through (ERPT) of the manufacturing sector of NAC for the years 1995 to 2009. ERPT is defined as the percentage change in export prices that is associated with a percentage change in the exchange rate. I am able to derive a measure that improves the estimates of the ERPT. In addition, I derive improved measures of marginal cost, product differentiation, and import share. Using a variance-weighted least-squares regression, I find that product differentiation and marginal cost have a positive and significant impact on ERPT, while the import share has a negative effect on the degree of ERPT. The third essay uses the WIOD to derive a measure of vertical specialization (VS). VS measures the foreign value-added share in the output value of final manufacturing goods in a country. I use a dynamic ordinary least square (DOLS) model to examine the effect of vertical specialization, exchange rate, and exchange rate volatility on bilateral trade flows between the United States and Canada and Mexico for the years 1995 to 2007. DOLS controls for the endogeneity between the dependent variable and vertical specialization. I find that the vertical specialization has a positive effect on trade flows when non-linearities are taken into consideration.
Book Synopsis La Pléiade and Exchange Rate Pass-through by : Andrzej Baniak
Download or read book La Pléiade and Exchange Rate Pass-through written by Andrzej Baniak and published by . This book was released on 1994 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
