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Exchange rate pass-through, markups, and inventories

Copeland, Adam; Kahn, James A. - Federal Reserve Bank of New York - 2012

A large body of research has established that exporters do not fully adjust their prices across countries in response to exchange rate movements, but instead allow their markups to vary. But while markups are difficult to observe directly, we show in this paper that inventory-sales ratios...

Persistent link: https://www.econbiz.de/10010598261

The production impact of "cash-for-clunkers": implications for stabilization policy

Copeland, Adam; Kahn, James - Federal Reserve Bank of New York - 2011

translate into production, however, especially when inventories are involved. We look at the “cash-for-clunkers” program that … inventories buffered the movements in sales. These findings suggest caution in judging the efficacy of such policies by their …

Persistent link: https://www.econbiz.de/10009206339

Interest rates and the market for new light vehicles

Copeland, Adam; Hall, George J.; Maccini, Louis J. - 2015

cost of holding inventories. Both channels have equilibrium effects that are amplified and propagated over time through … inventories, which serve as a way to both smooth production and facilitate greater sales at a given price. Through the estimation … played by inventories. A temporary 100 basis point increase in both interest rates causes vehicle production to fall 12 …

Persistent link: https://www.econbiz.de/10011460625