Exchange Rate Fluctuations Pass Through And Market Share
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Exchange Rate Fluctuations Pass Through And Market Share
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 1989-09-05
Exchange Rate Fluctuations Pass Through And Market Share written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1989-09-05 with Business & Economics categories.
When the exchange rate fluctuates and the market exhibits hysteresis, planning horizons of domestic and foreign competitors will matter in determining pass-through as well as relative market shares of these firms. Using the Cournot duopoly model, it is shown that if the foreign exporter is a long-term maximizer relative to the domestic firm, pass-through will be lower and average export penetration higher than otherwise.
Exchange Rate Pass Through And Dynamic Oligopoly
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Author : Dominique M. Gross
language : en
Publisher: International Monetary Fund
Release Date : 1999-04-01
Exchange Rate Pass Through And Dynamic Oligopoly written by Dominique M. Gross and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999-04-01 with Business & Economics categories.
This paper explicitly takes into account the dynamic oligopolistic rivalry among source producers to evaluate the degree of exchange rate pass-through. Using recent time-series techniques for the case of imported automobiles in Switzerland, the results show that prices are strategic complements and that the degree of pass-through is lower in the long run than in the short run. We attribute this to the fact that, although some rivals match long-term price changes, others do not, inducing the producer who faces a change in exchange rate to absorb a greater proportion of the variation.
The Real Exchange Rate And Prices Of Traded Goods In Oecd Countries
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Author : Holger Brauer
language : en
Publisher: Springer Science & Business Media
Release Date : 2003
The Real Exchange Rate And Prices Of Traded Goods In Oecd Countries written by Holger Brauer and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Foreign exchange rates categories.
Exchange Rate Volatility Pricing To Market And Trade Smoothing
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Author : Mr.Peter B. Clark
language : en
Publisher: International Monetary Fund
Release Date : 1997-10-01
Exchange Rate Volatility Pricing To Market And Trade Smoothing written by Mr.Peter B. Clark and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997-10-01 with Business & Economics categories.
This paper investigates the consequences of exchange rate volatility on the variability of export prices and quantities in the presence of market segmentation and pricing to market. Firms stabilize destination prices through systematic price discrimination, limiting the degree of exchange rate pass-through. Consequently, the variability of exchange rates is not fully translated into prices and quantities at the point of destination. Empirical estimates using aggregate price data for the G-7 industrial countries show incomplete pass-through in variances, with considerable variation among these countries. U.S. industry specific data also indicate incomplete pass-through in most cases, with considerable variation across industries.
Investment Pass Through And Exchange Rates
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Author : José Campa
language : en
Publisher:
Release Date : 1996
Investment Pass Through And Exchange Rates written by José Campa and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Foreign exchange rates categories.
Pricing In International Markets
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Author : Atish R. Ghosh
language : en
Publisher:
Release Date : 1994
Pricing In International Markets written by Atish R. Ghosh and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994 with Economist (London, England) categories.
Export firms are often assumed to stabilize destination market prices in the face of nominal exchange rate changes in order to protect market share. We show that standard tests of such pricing to market fail to discriminate against the alternative hypothesis of menu costs. As a case study, we examine the characteristics and determinants of changes in the cover prices of The Economist magazine in a sample of twelve countries over the floating rate period. We find that, while the law of one price fails, there is no evidence of systematic attempts to offset nominal exchange rate movements. Instead, the findings are consistent with menu cost driven pricing behavior.
Exchange Rates And Corporate Performance
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Author : Yakov Amihud
language : en
Publisher: Beard Books
Release Date : 2003
Exchange Rates And Corporate Performance written by Yakov Amihud and has been published by Beard Books this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Business & Economics categories.
This is a reprint of a previously published book. It consists of a series of papers by experts in the field on how the exchange rate volatility of the 1980s affected the financial policies of international firms.
A Note On Exchange Rate Pass Through In Cis Countries
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Author : Iikka Korhonen
language : en
Publisher:
Release Date : 2007
A Note On Exchange Rate Pass Through In Cis Countries written by Iikka Korhonen and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with categories.
We assess the extent and speed of exchange rate pass-through in the countries of the Commonwealth of Independent States (CIS). We do this in the framework of vector autoregressive regressions, utilising impulse functions and variance decompositions with monthly data that starts in 1999 in order to avoid periods of very high inflation and the Russian crisis. We find that exchange rate movements have a clear impact on price developments in the CIS countries. The speed of the pass-through is also fairly high: in most cases the full effect is transmitted into domestic prices in less than 12 months. Unlike in many other emerging market economies, an additional effect from US prices on to domestic prices is not significant. The extent of the exchange rate pass-through is usually much higher than in our benchmark group of emerging market countries. Variance decomposition shows that the relative share of exchange rates in explaining changes in domestic prices is higher in the CIS countries than in the benchmark group. Our results indicate that policy-makers in the CIS countries need to pay more attention to exchange rate movements than in many other emerging market countries.
The Exchange Rate Pass Through To Import And Export Prices
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Author : Ehsan U. Choudhri
language : en
Publisher: International Monetary Fund
Release Date : 2012-09-01
The Exchange Rate Pass Through To Import And Export Prices written by Ehsan U. Choudhri and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-09-01 with Business & Economics categories.
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 based on the presence of both producer and local currency pricing. Using a dynamic general equilibrium model, the paper shows that a mix of producer and local currency pricing can explain the pass-through evidence even with a constant markup. The model can also explain the observed exchange rate and inflation variability as well as the fact that the regression and VAR estimates tend to be similar.
Pass Through Exposure
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Author : Gordon M. Bodnar
language : en
Publisher:
Release Date : 1999
Pass Through Exposure written by Gordon M. Bodnar and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with categories.