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Despite competition concerns over the increasing dominance of global corporations, many argue that productivity spillovers from multinationals to domestic firms justify pro-FDI policies. For the first time, we use firm-to-firm transaction data in a developed country to examine the impact of...
Persistent link: https://www.econbiz.de/10014550241
Large exporters are simultaneously large importers. In this paper, we show that this pattern is key to understanding low aggregate exchange rate pass-through as well as the variation in pass-through across exporters. First, we develop a theoretical framework that combines variable markups due to...
Persistent link: https://www.econbiz.de/10011506758
Large movements in exchange rates have small effects on the prices of internationally traded goods. Using a new dataset on currency invoicing of Belgian firms, we study how the currency of invoicing interacts with firm characteristics in shaping the extent of exchange rate pass-through at...
Persistent link: https://www.econbiz.de/10012141543