How Important is the Currency Denomination of Exports in Open-Economy Models?

We show that standard alternative assumptions about the currency in which firms price export goods are virtually inconsequential for the properties of aggregate variables, other than the terms of trade, in a quantitative open-economy model. This result is in contrast to a large literature that emphasizes the importance of the currency denomination of exports for the properties of open-economy models.

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Year of publication:	2009-11-20
Authors:	Dotsey, Michael ; Duarte, Margarida
Institutions:	University of Toronto, Department of Economics
Subject:	local currency pricing \| producer currency pricing \| international relative prices \| exchange rates \| nontraded goods \| distribution services

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Extent:	application/pdf
Series:	Working Papers.
Type of publication:	Book / Working Paper
Language:	English
Notes:	29 pages
Classification:	F3 - International Finance ; F41 - Open Economy Macroeconomics
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008540954