Pass Through Of Exchange Rates And Purchasing Power Parity
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Author | : Robert C. Feenstra |
Publisher | : |
Total Pages | : 56 |
Release | : 1994 |
Genre | : Foreign exchange rates |
ISBN | : |
In this paper we develop and test two hypotheses about purchasing power parity (PPP) derived from the pricing behavior of profit- maximizing, exporting firms. The first is that changes in the price of traded goods relative to domestic substitutes, due to partial pass- through of exchange rates, will affect the PPP relation. The second is that PPP should hold on forward rather than spot exchange rates, due to hedging by firms. Using quarterly data for the United States, Canada, France, Germany, Japan and the United Kingdom, we find considerable support for the first but not the second hypothesis.
Author | : William R. Smith |
Publisher | : Routledge |
Total Pages | : 212 |
Release | : 2017-04-21 |
Genre | : Business & Economics |
ISBN | : 135175131X |
Originally published in 1996. This study looks at the impact of exchange rate fluctuation on the pricing practices of foreign industries that import into the United States market. It presents several studies of the pass-through behaviour of over 100 disaggregated commodity groups with bi-lateral exchange rates. The book presents analysis of specific competitors and their individual pricing responses to exchange rate changes, adding significantly to pricing theory as well as being useful for marketers in predicting business responses.
Author | : Pan A. Yotopoulos |
Publisher | : Cambridge University Press |
Total Pages | : 356 |
Release | : 1996 |
Genre | : Business & Economics |
ISBN | : 9780521482165 |
This book extends recent theories of incomplete markets to investigate empirically the appropriate balance between the market and the state in the trade relations between developed and developing countries. The conclusion is that in an ideal world government intervention in foreign exchange and trade is necessary in developing countries in the early stages and inevitably decreases as development occurs. Rationing of foreign exchange prevents a 'soft currency distortion' that commonly afflicts developing countries and can turn comparative advantage trade into competitive devaluation trade, with severe losses of income and welfare. Yotopoulos finds that the level of underdevelopment narrowly circumscribes and conditions the extent to which free-market, free-trade, laissez-faire can be beneficial, contrary to the mainstream policy paradigm as currently applied. The analysis and tests draw on empirical research from seventy countries and four extended country studies to confirm the usefulness and validity of the theoretical framework.
Author | : Mr.Tamim Bayoumi |
Publisher | : International Monetary Fund |
Total Pages | : 18 |
Release | : 1998-05-01 |
Genre | : Business & Economics |
ISBN | : 1451960840 |
We examine the mean-reverting properties of real exchange rates, by comparing the unit root properties of a group of international real exchange rates with two groups of intra-national real exchange rates. Strikingly, we find that while the international real rates taken as a group appear mean-reverting, the intra-national rates are not. This is consistent with the view that while monetary shocks may be mean-reverting over the medium term, underlying real factors do generate long-term trends in real exchange rates.
Author | : |
Publisher | : |
Total Pages | : 36 |
Release | : 1996 |
Genre | : |
ISBN | : |
Author | : Kenneth W. Clements |
Publisher | : Cambridge University Press |
Total Pages | : 401 |
Release | : 2013-01-31 |
Genre | : Business & Economics |
ISBN | : 110701476X |
Discusses economic issues associated with exchange rates, commodity prices, the economic size of countries and alternatives to PPP exchange rates.
Author | : Yakov Amihud |
Publisher | : Beard Books |
Total Pages | : 268 |
Release | : 2003 |
Genre | : Business & Economics |
ISBN | : 9781587981593 |
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.
Author | : International Monetary Fund |
Publisher | : International Monetary Fund |
Total Pages | : 34 |
Release | : 2021-05-06 |
Genre | : Business & Economics |
ISBN | : 1513573691 |
Determining the magnitude and speed of the exchange rate passthrough (ERPT) to inflation has been of paramount importance for policy-makers in developed and emerging economies. This paper estimates the exchange rate passthrough in Mozambique using econometric techniques on a sample spanning from 2001 to 2019. Results suggest that the ERPT is assymetric, sizable and fast, with 50 percent of the exchange rate variations passing through to prices in less than six months. Policy-makers should continue to pursue low and stable inflation and develop a strong track record of prudent macroeconomic policies for the ERPT to decline.
Author | : P. Karadeloglou |
Publisher | : Springer |
Total Pages | : 255 |
Release | : 2008-02-13 |
Genre | : Business & Economics |
ISBN | : 0230582699 |
This book looks at the PPP persistence puzzle, and econometric aspects of exchange rate dynamics and their implications. It also explores the importance of exchange rate dynamics in the pass-through effects (PTE) and the econometric aspects of the exchange rates dynamics linked to structural shocks on different economies.
Author | : Mārtiņš Bitāns |
Publisher | : |
Total Pages | : 44 |
Release | : 2005 |
Genre | : |
ISBN | : |