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Exchange rate pass-through in the deflationary Japan : how effective is the Yen s depreciation for fighting deflation?
Fujii, Eiji - 2004
There is an increasing endorsement for the yen s depreciation as a means to fight the ongoing deflation in Japan. The idea of generating inflation via depreciation relies on the assumption that exporters pass-through most of the effect of the exchange rate changes to the Japanese importers and...
Persistent link: https://www.econbiz.de/10011402651
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The price of capital goods, investment, and labor : micro-evidence from a trade liberalization
Maleshchuk, Sergii; Timmer, Yannick - 2024
In this paper, we show that a reduction in capital goods prices induced by trade policies can stimulate both investment … differential exposure to reductions in capital goods tariffs react in terms of their investment and labor decision. Firms that see … a larger decline in the input tariff for capital goods increase investment and labor for production, as well as their …
Persistent link: https://www.econbiz.de/10015048976
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Climate change mitigation strategies in fast-growing countries : the benefits of early action
Bosetti, Valentina; Carraro, Carlo; Tavoni, Massimo - 2009
investment behaviour is to anticipate the implementation of a climate policy by roughly 10 years. Investing in innovation ahead …
Persistent link: https://www.econbiz.de/10003872313
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Powering up developing countries through integration?
Auriol, Emmanuelle; Biancini, Sara - 2012
to invest compared to autarky. The investment levels remain inefficient though. With generation facilities over-investment … occurs sometimes, while systematic under-investment occurs for transportation facilities. Free-riding reduces the incentives … investment. -- regulation ; competition ; market integration ; investment ; electricity …
Persistent link: https://www.econbiz.de/10009571212
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Climate change and long-run discount rates : evidence from real estate
Giglio, Stefano; Maggiori, Matteo; Stroebel, Johannes; … - 2015
The optimal investment to mitigate climate change crucially depends on the discount rate used to evaluate the … investment's uncertain future benefits. The appropriate discount rate is a function of the horizon over which these benefits … accrue and the riskiness of the investment. In this paper, we estimate the term structure of discount rates for an important …
Persistent link: https://www.econbiz.de/10011387348
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Recent estimates of exchange rate pass-through to import prices in the Euro area
Cheikh, Nidhaleddine Ben; Rault, Christophe - 2015
This paper provides an update on the exchange rate pass-through (ERPT) estimates for 12 euro area (EA) countries. First, based on quarterly data over the 1990-2012 period, our study does not find a significant heterogeneity in the degree of pass-through across the monetary union members, in...
Persistent link: https://www.econbiz.de/10010518820
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The pass-through of exchange rate in the context of the European sovereign debt crisis
Cheikh, Nidhaleddine Ben; Rault, Christophe - 2015
This paper investigates whether exchange rate pass-through (ERPT) into import prices is a nonlinear phenomenon for five heavily indebted Euro area countries, namely the so-called GIIPS group (Greece, Ireland, Italy, Portugal, and Spain). Using logistic smooth transition models, we explore the...
Persistent link: https://www.econbiz.de/10011346864
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Nonlinearities in the exchange rate pass-through : the role of inflation expectations
Anderl, Christina; Caporale, Guglielmo Maria - 2022
This paper investigates nonlinearities in the exchange rate pass-through (ERPT) to consumer and import prices by estimating a smooth transition regression model with different inflation expectations regimes for five inflation targeting countries (the UK, Canada, Australia, New Zealand and...
Persistent link: https://www.econbiz.de/10012806637
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International financial market integration, asset compositions, and the falling exchange rate pass-through
Enders, Almira; Enders, Zeno; Hoffmann, Mathias - 2017
This paper provides an explanation for the observed decline of the exchange rate pass-through into import prices by modeling the effects of financial market integration on the optimal choice of the pricing currency in the context of rigid nominal goods prices. Contrary to previous literature, we...
Persistent link: https://www.econbiz.de/10011654742
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Investigating first-stage exchange rate pass-through : sectoral and macro evidence from euro area countries
Cheikh, Nidhaleddine Ben; Rault, Christophe - 2017
In this paper, we evaluate the first-stage pass-through, namely the responsiveness of import prices to the exchange rate changes, for a sample of euro area (EA) countries. Our study aims to shed further light on the role of microeconomic factors vs. macroeconomic factors in influencing the...
Persistent link: https://www.econbiz.de/10011611289