| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w21413 |
| 来源ID | Working Paper 21413 |
| Exchange Rate Pass-Through, Currency of Invoicing and Market Share | |
| Michael B. Devereux; Ben Tomlin; Wei Dong | |
| 发表日期 | 2015-08-03 |
| 出版年 | 2015 |
| 语种 | 英语 |
| 摘要 | This paper investigates the impact of market structure on the joint determination of exchange rate pass- through and currency of invoicing in international trade. A novel feature of the study is the focus on market share of firms on both sides of the market—that is, exporting firms and importing firms. A model of monopolistic competition with heterogeneous firms has the following set of predictions: a) exchange rate pass-through should be non-monotonic and U-shaped in the market share of exporting firms, but monotonically declining in the market share of importers; b) exchange rate pass-through should be lower, the higher is local currency invoicing of imports; and c) producer currency invoicing should be related non-monotonically and U-shaped to exporter market share, and monotonically declining in importing firms’ market share. We test these predictions using a new and large micro data set covering the universe of Canadian imports over a six-year period. The data strongly support all three predictions. |
| 主题 | International Economics ; International Finance ; International Macroeconomics |
| URL | https://www.nber.org/papers/w21413 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/579088 |
| 推荐引用方式 GB/T 7714 | Michael B. Devereux,Ben Tomlin,Wei Dong. Exchange Rate Pass-Through, Currency of Invoicing and Market Share. 2015. |
| 条目包含的文件 | 条目无相关文件。 | |||||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
