MARC Record from Library of Congress

LEADER: 02413cam a22003257a 4500
001 2007615286
003 DLC
005 20111201082505.0
007 cr |||||||||||
008 070920s2007 dcu sb f000 0 eng
010 $a 2007615286
040 $aDLC$cDLC$dDLC
050 00 $aHG3879
100 1 $aVigfusson, Robert J.
245 10 $aExchange rate pass-through to export prices$h[electronic resource] :$bsome cross-country evidence /$cRobert J. Vigfusson, Nathan Sheets, and Joseph Gagnon.
260 $aWashington, D.C. :$bFederal Reserve Board,$c[2007]
490 1 $aInternational finance discussion papers ;$vno. 902
538 $aSystem requirements: Adobe Acrobat Reader.
538 $aMode of access: World Wide Web.
500 $aTitle from PDF file as viewed on 9/20/2007.
530 $aAlso available in print.
504 $aIncludes bibliographical references.
520 3 $a"A growing body of empirical work has found evidence of a decline in exchange rate pass-through to import prices in a number of industrial countries. Our paper complements this work by examining pass-through from the other side of the transaction; that is, we assess the exchange rate sensitivity of export prices (denominated in the exporter's currency). We first sketch out a streamlined analytical model that highlights some key factors that determine pass-through. Using this model as reference, we find that the prices charged on exports to the United States are more responsive to the exchange rate than is the case for export prices to other destinations, which is consistent with results in the literature suggesting that import price pass-through in the U.S. market is relatively low. We also find that moves in the exchange rate sensitivity of export prices over time have been significantly affected by country and region-specific factors, including the Asian financial crisis (for emerging Asia), deepening integration with the United States (for Canada), and the effects of the 1992 ERM crisis (for the United Kingdom)"--Federal Reserve Board web site.
650 0 $aExports$xPrices.
650 0 $aExchange rate pass-through.
700 1 $aSheets, Nathan.
700 1 $aGagnon, Joseph E.
710 2 $aBoard of Governors of the Federal Reserve System (U.S.)
830 0 $aInternational finance discussion papers (Online) ;$vno. 902.
856 40 $uhttp://www.federalreserve.gov/pubs/ifdp/2007/902/default.htm