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The response of the US export prices to changes in the dollar's effective exchange rate: further evidence from industry level data
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In this paper, the relationship between the dollar's effective exchange rate and the export price indexes for 13 two-digit US manufacturing industries is analyzed to determine which industry adjusts its dollar export price to dampen or amplify the effect of the exchange rate fluctuations on the foreign-currency price of its exports.Abstract:
The relationship between the dollar's effective exchange rate and the export price indexes for 13 two-digit US manufacturing industries is analysed to determine (i) which industry adjusts its dollar export price to dampen or amplify the effect of the exchange rate fluctuations on the foreign-currency price of its exports and (ii) whether the response of the export price index to appreciation and depreciation of the exchange rate is asymmetric. For several industries, evidence consistent with dampening the foreign-currency price of exports in an asymmetric fashion is found. The implications of the results for the price competitiveness of the industries studied is discussed.read more
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Asymmetric exchange rate pass-through: Evidence from major countries
TL;DR: In this paper, the authors investigate the asymmetric effect of exchange rate variations on prices over the short and long-run in four major developed countries and show that depreciations are passed through prices more than appreciations.
Journal ArticleDOI
Asymmetric Exchange Rate Pass-Through: Evidence from Major Countries
TL;DR: In this article, the authors investigate the asymmetric effect of exchange rate variations on prices over the short and long-run and show that depreciations are passed through prices more than appreciations.
Journal ArticleDOI
Nonlinear mechanisms of the exchange rate pass-through: a Phillips curve model with threshold for Brazil
TL;DR: In this paper, the authors investigate the presence of nonlinear mechanisms of pass-through from the exchange rate to inflation in Brazil and investigate whether the short-run magnitude of the passthrough is affected by the business cycle, direction and magnitude of exchange rate changes, and exchange rate volatility.
Journal ArticleDOI
Does exchange rate pass-through respond to measures of macroeconomic instability?
TL;DR: In this paper, the authors argue that exchange rate pass-through may be nonlinear in contrast to standard linear estimates found in the literature, and test this hypothesis applying a logistic smooth transition (LSTR) model to Mexican data.
Journal ArticleDOI
Is exchange rate pass-through symmetric? Evidence from US imports
TL;DR: In this article, the authors address the question of whether exchange rate pass-through into the import price is symmetric between appreciation and depreciation of the home currency and find that mixed evidence is found regarding the stability of exchange-rate passthrough.
References
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Pricing to Market when the Exchange Rate Changes
TL;DR: In this article, the authors investigate the extent of "pricing to market" by foreign suppliers, and show that pricing to market is a real phenomenon, but not universal; in particular, evidence on German export prices suggests that stickiness of import prices is largely confined to machinery and transport equipment.
Posted Content
Price Discrimination by U.S. and German Exporters
TL;DR: The relationship between local currency import prices and exchange rates has been referred to as the "pass-through" relationship in the empirical literature in international economics as mentioned in this paper, which is consistent with at least two fundamentally different paradigms: a simple integrated, competitive market model predicts that local currency prices should change in proportion to the nominal exchange rate for a country too small to influence world prices.
Posted Content
International Comparisons of Pricing-to-Market Behavior
TL;DR: In this paper, the degree of price discrimination across export destinations that is associated with exchange rate changes using U.S., U.K., German and Japanese industry level data was measured.
Journal ArticleDOI
Exchange rates and traded goods prices
TL;DR: In this paper, the authors present a partial equilibrium model of the determination of domestic and export prices by a monopolistic competitive firm, which stresses the role of exchange rate uncertainty and expectations.
Posted Content
Pricing to Market in Japanese Manufacturing
TL;DR: In this paper, the authors investigate pricing by Japanese manufacturing firms in export and domestic markets and find evidence that Japanese firms respond to changes in real exchange rates by "pricing to market", varying their export prices in yen relative to their domestic prices.