全球智库信息集成服务系统(G2TT): Domestic Price Dollarization in Emerging Economies

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w27647
来源ID	Working Paper 27647
	Domestic Price Dollarization in Emerging Economies
	Andres Drenik; Diego Perez
发表日期	2020-08-10
出版年	2020
语种	英语
摘要	This paper studies the dollarization of prices in retail markets of emerging economies. We develop a model of the firm’s optimal currency choice in retail markets in inflationary economies. We derive theoretical predictions regarding the optimality of dollar pricing, and test them using data from the largest e-trade platform in Latin America. Across countries, price dollarization is positively correlated with asset dollarization and inflation, and negatively correlated with exchange rate volatility. At the micro level, larger sellers are more likely to price in dollars, and more tradeable goods are more likely to be posted in dollars. We then show that prices are sticky, and hence the currency of prices determines the short-run reaction of both prices and quantities to a nominal exchange rate shock.
主题	Macroeconomics ; Business Cycles ; International Economics ; International Macroeconomics
URL	https://www.nber.org/papers/w27647
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/585319
推荐引用方式 GB/T 7714	Andres Drenik,Diego Perez. Domestic Price Dollarization in Emerging Economies. 2020.