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Services in the Domestic Economy and in World Transactions

Kravis, Irving B. - 1983

A new interest in the role of services in world transactions has been generated by the current efforts of the U. S …. Government to reduce barriers to international trade in services.The paper distinguishes four different classifications of … economic activities between services and corrmodities. Service industries -- those producing non-storable outputs -- have been …

Persistent link: https://www.econbiz.de/10012477978

Trade Prices and the Global Trade Collapse of 2008-2009

Gopinath, Gita - 2011

We document the behavior of trade prices during the Great Trade Collapse of 2008-2009 using transaction-level data from the U.S. Bureau of Labor Statistics. First, we find that differentiated manufactures exhibited marked stability in their trade prices during the large decline in their trade...

Persistent link: https://www.econbiz.de/10012461064

Pricing to Market, Staggered Contracts, and Real Exchange Rate Persistence

Bergin, Paul R. - 1999

This paper offers an explanation for the persistence observed in real exchange rate movements. The model combines pricing to market behavior with sticky prices generated by staggered contracts. A translog preference structure is sued to enhance both features. The paper finds that openness limits...

Persistent link: https://www.econbiz.de/10012471774

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

Price Behavior in the Light of Balance of Payments Theories

Kravis, Irving B. - 1977

The purpose of this paper is to describe the behavior of that subset of prices and price indexes that is relevant to the theory of balance of payments adjustment. The theoretical writings on the balance of payments may be viewed at this juncture as falling into two main groups -- the "standard"...

Persistent link: https://www.econbiz.de/10012478950

In Search of Real Rigidities

Gopinath, Gita - 2010

The closed and open economy literatures work on evaluating the role of real rigidities, but in parallel. This paper brings the two literatures together. We use international price data and exchange rate shocks to evaluate the importance of real rigidities in price setting. We show that...

Persistent link: https://www.econbiz.de/10012462590

Globalization, Markups and U.S. Welfare

Feenstra, Robert C. - 2010

This paper is the first attempt to structurally estimate the impact of globalization on markups, and the effect of changing markups on welfare, in a monopolistic competition model. To achieve this, we work with a class of preferences that allow for endogenous markups and firm entry and exit that...

Persistent link: https://www.econbiz.de/10012462906

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

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

Staggered Price Setting and Endogenous Persistence

Bergin, Paul R. - 1998

This paper generates persistent effects of a monetary disturbance in the context of staggered price-setters. Previous research has been restricted by the CES functional form to price-setting rules that are constant markups over marginal costs. The present paper considers a translog form for...

Persistent link: https://www.econbiz.de/10012472310