The exchange rate pass-through to import and export prices [[electronic resource] ] : the role of nominal rigidities and currency choice / / prepared by Ehsan U. Choudhri and Dahlia S. Hakura

• Autore: Choudhri Ehsan U
• Pubblicazione: Washington, D.C., : International Monetary Fund, c2012
• Descrizione fisica: 1 online resource (35 p.)
• Soggetto topico: Exchange rate pass-through; Prices
• Soggetto genere / forma: Electronic books.
• Altri autori: HakuraDahlia S
• Note generali: "September 2012."
• Nota di bibliografia: Includes bibliographical references.
• Nota di contenuto: Cover; Contents; I. Introduction; II. Empirical Evidence; III. The Model; A. Basic Setup; B. Key Relations; IV. Quantitative Analysis; A. Key Determinants of the Pass-Through to Trade Prices; B. Currency of Invoicing and the Pass-Through; V. Concluding Remarks; References; Tables; 1. OLS Regressions: Impact of Exchange Rate Changes on Trade Prices, 1979-2010; 2. VAR: First Quarter Trade Price Response to a One Percent Change in the Exchange Rate, 1979-2010; 3. Pass-Through Elasticities for Different Shocks ; 4. Wage-Price Stickiness, Exchange Rate Persistence, Inflation Reaction and the Pass-Through5. Stochastic Simulations; 6. Invoicing Currency Shares and the Pass-Through; Figures; 1. Regression and VAR Estimates of the Pass-Through; 2. Impulse Response Functions; 3. PCP Shares and the Pass-Through; Appendix Tables; 1. VAR: First Quarter Trade Price Response to a One Percent Change in the Exchange Rate 1985-1997; 2. VAR: First Quarter Trade Price Response to a One Percent Change in the Exchange Rate 1998-2010
• Sommario/riassunto: Using both regression- and VAR-based estimates, the paper finds that the exchange rate pass-through to import prices for a large number of countries is incomplete and larger than the pass-through to export prices. Previous studies have reported similar results, which give rise to the puzzle that while local currency pricing is needed to account for incomplete import price pass-through, it would not imply a lower export price pass-through. Recent explanations of this puzzle have emphasized markup adjustment in response to exchange rate changes. This paper suggests an alternative explanation bas
• Titolo autorizzato: The exchange rate pass-through to import and export prices
• ISBN: 1-4755-5240-8; 1-4755-8061-4
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9910462256703321
• Lo trovi qui: Univ. Federico II
• Serie: IMF Working Papers