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Import competition from China is pervasive in the sense that for many good categories, the competitive environment that …. This paper quantifies the effect of the government-controlled appreciation of the Chinese renminbi vis-à-vis the USD from … mild effects on US prices. Further analysis points to the importance of trade integration, variable markups, and demand …
Persistent link: https://www.econbiz.de/10011145441
annum. The most substantial impact on inflation arises, however, from the role of lower markups in reducing the inflation … markups. Using disaggregated data for EU manufacturing over the period 1988-2000 we find increased openness exerts a negative … and significant impact on sectoral prices. Increased openness lowers prices by both reducing markups and raising …
Persistent link: https://www.econbiz.de/10005667140
in market share, Nordic producer prices decrease by about 2.0%. This China effect entails a drop of 14% in producer …
Persistent link: https://www.econbiz.de/10009275961
What is the impact of import competition from other low-wage countries (LWCs) on inflationary pressure in Western Europe? This paper seeks to understand whether labor-intensive exports from emerging Europe, Asia, and other global regions have a uniform impact on producer prices in Germany,...
Persistent link: https://www.econbiz.de/10008784764
networks. Starting with country-level data, we find that both producer price and consumer price inflation rates move more …
Persistent link: https://www.econbiz.de/10011083958
are consistent with a model based on Dornbusch (1987) that generates variable markups through a nested-CES demand system …
Persistent link: https://www.econbiz.de/10011276376
While overall inflation has fallen dramatically in countries like Italy and Spain, inflation in the home good sector … remains stubbornly higher than inflation in the traded good sector. If nominal exchange rates are fixed, these real … appreciations imply an inflation differential with countries like Germany. We first show that the real appreciations can be …
Persistent link: https://www.econbiz.de/10005136589
Our paper integrates results from trade-in-task theory into mainstream trade theory by developing trade-in-task analogues to the four famous theorems (Heckscher-Ohlin, factor price equalisation, Stolper-Samuelson, and Rybczynski) and showing the standard gains-from-trade theorem does not hold...
Persistent link: https://www.econbiz.de/10008468674
Markups vary widely across industries and countries, their heterogeneity has increased overtime and asymmetric exposure … of markups affects resource misallocation and welfare in a general equilibrium framework encompassing a large class of … markups, may reduce welfare. Our approach is novel both in its generality and in the emphasis on the second moment of the …
Persistent link: https://www.econbiz.de/10004972166
Although economists have long been aware of Jensen's inequality, many econometric applications have neglected an important implication of it: the standard practice of interpreting the parameters of log-linearized models estimated by ordinary least squares as elasticities can be highly misleading...
Persistent link: https://www.econbiz.de/10005136746