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Vehicle Currency Pricing and Exchange Rate Pass-Through
Chen, Natalie - 2019
the relationship between invoicing currency choices and the response of import prices to exchange rate changes. We find … that for transactions invoiced in a vehicle currency, import prices are much more sensitive to changes in the vehicle … currencies. Our results help to explain the higher-than-expected pass-through into import prices during the Great Recession and …
Persistent link: https://www.econbiz.de/10012867016
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Exchange rate pass-through, domestic competition, and inflation: Evidence from the 2005/08 revaluation of the Renminbi
Auer, Raphael A. - 2012
affected US prices. Thus, the pre-2005 period is used to filter out the effects of other exchange rates on import and producer … prices. Additionally, utilizing the remainder of the sample, the pure effect of an RMB appreciation on US import prices and …, in turn, the effect of RMB-induced US import price fluctuations on US producer prices is established. In a panel spanning …
Persistent link: https://www.econbiz.de/10010281451
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Markups, Quality, and Trade Costs
Chen, Natalie - 2020
We investigate theoretically and empirically how exporters adjust their markups across destinations depending on bilateral distance, tariffs, and the quality of their exports. Under the assumption that trade costs are both ad valorem and per unit, our model predicts that markups rise with...
Persistent link: https://www.econbiz.de/10012844218
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Vehicle Currency Pricing and Exchange Rate Pass-Through
Chen, Natalie; Chung, Wanyu; Novy, Dennis - 2019
the relationship between invoicing currency choices and the response of import prices to exchange rate changes. We find … that for transactions invoiced in a vehicle currency, import prices are much more sensitive to changes in the vehicle … currencies. Our results help to explain the higher-than-expected pass-through into import prices during the Great Recession and …
Persistent link: https://www.econbiz.de/10012052801
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On the Pass-Through of Large Devaluations
Casacuberta, Carlos; Licandro, Omar - 2023
In 2002 Uruguay faced a sudden stop of international capital flows, inducing a deep financial crisis and a large devaluation of the peso. The real exchange rate depreciated and exports expanded. Paradoxically, export shares and real exchange rates negatively correlate among Uruguayan exporters...
Persistent link: https://www.econbiz.de/10014357036
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Pass-Through of Cost-Push Shocks
Gödl-Hanisch, Isabel; Menkhoff, Manuel - 2023
This paper examines the pass-through of cost-push shocks to customers at a granular level. Using unique firm-level survey data, we document five facts about pass-through across firms, sectors, and over time. We highlight a new channel relevant for pass-through: beliefs about the expected...
Persistent link: https://www.econbiz.de/10014347021
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Intra- and Inter-Industry Productivity Spillovers in OECD Manufacturing : A Spatial Econometric Perspective
Badinger, Harald; Egger, Peter H. - 2021
We adopt a spatial econometric approach to estimate intra- and inter-industry productivity spillovers in total factor productivity transmitted through input-output relations in a sample of 13 OECD countries and 15 manufacturing industries. Both R&D spillovers as well as remainder,...
Persistent link: https://www.econbiz.de/10013316626
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Gravity Without Apology : The Science of Elasticities, Distance, and Trade
Carrère, Céline - 2020
Gravity as both fact and theory is one of the great success stories of recent research on international trade, and has featured prominently in the policy debate over Brexit. We first review the facts, noting the overwhelming evidence that trade tends to fall with distance. We then introduce some...
Persistent link: https://www.econbiz.de/10012839359
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Unlocking New Methods to Estimate Country-Specific Trade Costs and Trade Elasticities
Freeman, Rebecca; Larch, Mario; Theodorakopoulos, Angelos; … - 2021
We propose new methods to identify the full impact of country-specific characteristics on bilateral trade flows within the framework of ‘the new quantitative trade model.’ We complement theory with a simple two-stage estimating procedure, and offer a proof of concept by quantifying the...
Persistent link: https://www.econbiz.de/10013312849
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Import Processing and Trade Costs
Carballo, Jerónimo; Graziano, Alejandro; Schaur, Georg; … - 2021
measure to evaluate processing frictions is the time it takes to import. In this paper we translate import processing times to … buffer processing shocks. Based on this theory, we employ detailed data on import processing dates, instrumental variables …, and firm-product-origin level import data to estimate import processing costs. Evaluated at the median, import processing …
Persistent link: https://www.econbiz.de/10013219078