Exchange Rate Pass Through And Dynamic Oligopoly

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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 Scope For Exchange Rate Pass Through In An Oligopoly

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Author : Richard Damania
language : en
Publisher:
Release Date : 1998

The Scope For Exchange Rate Pass Through In An Oligopoly written by Richard Damania and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with Foreign exchange categories.

Exchange Rate Pass Through In An Unionized International Oligopoly

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Author : Jacques Bughin
language : en
Publisher:
Release Date : 1997

Exchange Rate Pass Through In An Unionized International Oligopoly written by Jacques Bughin and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997 with categories.

Exchange Rates And Oligopoly

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Author : Thorsten Hens
language : en
Publisher:
Release Date : 1991

Exchange Rates And Oligopoly written by Thorsten Hens and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991 with Duopolies categories.

Industry Heterogeneity And Exchange Rate Pass Through

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Author : Camila Casas
language : en
Publisher:
Release Date : 2019

Industry Heterogeneity And Exchange Rate Pass Through written by Camila Casas and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.

Credit Currency Or Derivatives

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Author : Michael G. Papaioannou
language : en
Publisher: Emerald Group Publishing
Release Date : 2009-11-13

Credit Currency Or Derivatives written by Michael G. Papaioannou and has been published by Emerald Group Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-11-13 with Business & Economics categories.

Contains original papers that examine various issues concerning the role, the structure and functioning of credit, currency and derivatives instruments and markets as they relate to financial crises. This title stresses the importance of the inter-linkages of these instruments and markets in promoting or hindering financial stability or crises.

Flexible Exchange Rates For A Stable World Economy

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Author : Joseph E. Gagnon
language : en
Publisher: Peterson Institute
Release Date : 2011

Flexible Exchange Rates For A Stable World Economy written by Joseph E. Gagnon and has been published by Peterson Institute this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with Business & Economics categories.

Volatile exchange rates and how to manage them are a contentious topic whenever economic policymakers gather in international meetings. This book examines the broad parameters of exchange rate policy in light of both high-powered theory and real-world experience. What are the costs and benefits of flexible versus fixed exchange rates? How much of a role should the exchange rate play in monetary policy? Why don't volatile exchange rates destabilize inflation and output? The principal finding of this book is that using monetary policy to fight exchange rate volatility, including through the adoption of a fixed exchange rate regime, leads to greater volatility of employment, output, and inflation. In other words, the "cure" for exchange rate volatility is worse than the disease. This finding is demonstrated in economic models, in historical case studies, and in statistical analysis of the data. The book devotes considerable attention to understanding the reasons why volatile exchange rates do not destabilize inflation and output. The book concludes that many countries would benefit from allowing greater flexibility of their exchange rates in order to target monetary policy at stabilization of their domestic economies. Few, if any, countries would benefit from a move in the opposite direction.

Accounting For Incomplete Pass Through

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Author : Emi Nakamura
language : en
Publisher:
Release Date : 2009

Accounting For Incomplete Pass Through written by Emi Nakamura and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with Coffee industry categories.

Recent theoretical work has suggested a number of potentially important factors in causing incomplete pass-through of exchange rates to prices, including markup adjustment, local costs and barriers to price adjustment. We empirically analyze the determinants of incomplete pass-through in the coffee industry. The observed pass-through in this industry replicates key features of pass-through documented in aggregate data: prices respond sluggishly and incompletely to changes in costs. We use microdata on sales and prices to uncover the role of markup adjustment, local costs, and barriers to price adjustment in determining incomplete pass-through using a structural oligopoly model that nests all three potential factors. The implied pricing model explains the main dynamic features of short and long-run pass-through. Local costs reduce long-run pass-through (after 6 quarters) by a factor of 59% relative to a CES benchmark. Markup adjustment reduces pass-through by an additional factor of 33%, where the extent of markup adjustment depends on the estimated "super-elasticity" of demand. The estimated menu costs are small 0.23% of revenue) and have a negligible effect on long-run pass-through, but are quantitatively successful in explaining the delayed response of prices to costs. The estimated strategic complementarities in pricing do not, therefore, substantially delay the response of prices to costs. We find that delayed pass-through in the coffee industry occurs almost entirely at the wholesale rather than the retail level.

The Impact Of Domestic Market Structure On Exchange Rate Pass Through

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Author : Ahmed H. Mohamed
language : en
Publisher:
Release Date : 1990

The Impact Of Domestic Market Structure On Exchange Rate Pass Through written by Ahmed H. Mohamed and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1990 with Foreign exchange categories.

International Financial Crises And Agriculture

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Author :
language : en
Publisher: DIANE Publishing
Release Date : 2000

International Financial Crises And Agriculture written by and has been published by DIANE Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Agriculture categories.