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Frequency of Price Adjustment and Pass-through
Gopinath, Gita - 2008
A common finding across empirical studies of price adjustment is that there is large heterogeneity in the frequency of price adjustment. However, there is little evidence of how distant prices are from the desired flexible price. Without this evidence, it is difficult to discern what the...
Persistent link: https://www.econbiz.de/10012464447
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Globalization and Inflation Dynamics : the Impact of Increased Competition
Sbordone, Argia M. - 2007
This paper analyzes the potential effect of global market competition on inflation dynamics. It does so through the lens of the Calvo model of staggered price-setting, which implies that inflation depends on expected future inflation and a measure of marginal costs. I modify the assumption of a...
Persistent link: https://www.econbiz.de/10012465091
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Endogenous Currency of Price Setting in a Dynamic Open Economy Model
Devereux, Michael B. - 2001
Many papers in the recent literature in open economy macroeconomics make different assumptions about the currency in which firms set their export prices when nominal prices must be pre-set. But to date, all of these studies take the currency of price setting as exogenous. This paper sets up a...
Persistent link: https://www.econbiz.de/10012470159
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Export Prices and Exchange Rates
Kravis, Irving B. - 1977
The present paper is intended to make a modest contribution to an under-standing of one small but important link in this complicated chain of interacting factors. It is a link that has often been ignored because strong simplifying assumptions have until very recently usually been made about it....
Persistent link: https://www.econbiz.de/10012478947
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Pass-through of Exchange Rates and Competition Between Floaters and Fixers
Bergin, Paul R. - 2007
.S. import prices. We develop a theoretical model with variable markups showing that the presence of exports from a country with … import prices. Free entry is found to further moderate the pass-through, in that a U.S. depreciation encourages entry of …-through regressions indicating how to include the China share. Panel regressions over 1993-1999 support the prediction that a high China …
Persistent link: https://www.econbiz.de/10012465019
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Currency Choice and Exchange Rate Pass-through
Gopinath, Gita - 2007
A central assumption of open economy macro models with nominal rigidities relates to the currency in which goods are priced, whether there is so-called producer currency pricing or local currency pricing. This has important implications for exchange rate pass-through and optimal exchange rate...
Persistent link: https://www.econbiz.de/10012465217
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Distribution Margins, Imported Inputs, and the Sensitivity of the CPI to Exchange Rates
Goldberg, Linda S. - 2006
Border prices of traded goods are highly sensitive to exchange rates, but the CPI, and the retail prices of these goods, are more stable. Our paper decomposes the sources of this stability for twenty-one OECD countries, focusing on the important roles of distribution margins and imported inputs...
Persistent link: https://www.econbiz.de/10012466548
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Exchange-Rate Pass-Through to Import Prices in the Euro Area
Campa, José Manuel - 2005
This paper presents an empirical analysis of transmission rates from exchange rate movements to import prices, across … exchange rate changes to import prices in the short run is high, although incomplete, and that it differs across industries and … producing differentiated goods have been more likely to experience reduced rates of exchange rate pass-through to import prices …
Persistent link: https://www.econbiz.de/10012467045
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Equivalence Results for Optimal Pass-Through, Optimal Indexing to Exchange Rates, and Optimal Choice of Currency for Export Pricing
Engel, Charles - 2005
Firms sometimes write price lists or catalogs for their exports, so they set prices for a period of time and do not adjust prices during that interval in response to changes in their environment. The firm sets the price either in its own currency or the importer's currency. This paper draws a...
Persistent link: https://www.econbiz.de/10012467476
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Slow Passthrough Around the World : A New Import for Developing Countries?
Frankel, Jeffrey A. - 2005
Developing countries traditionally exhibit passthrough of exchange rate changes that is greater and more rapid than high-income countries, but have experienced a rapid downward trend in recent years in the degree of short-run passthrough, and in the adjustment speed. As a consequence, slow and...
Persistent link: https://www.econbiz.de/10012467486