期刊
OXFORD BULLETIN OF ECONOMICS AND STATISTICS
卷 75, 期 5, 页码 731-758出版社
WILEY-BLACKWELL
DOI: 10.1111/j.1468-0084.2012.00711.x
关键词
F3; F4; F14; C22
A standard assumption in the empirical literature is that exchange rate pass-through is both linear and symmetric. This study tests these assumptions for export and import prices in the G7 economies. It focuses on non-linearities in the reaction of profit margins to exchange rate movements, which may arise from the presence of price rigidities and switching costs. Nonlinearities are characterized by augmenting a standard linear model with polynomial functions of the exchange rate and with interactive dummy variables. The results suggest that nonlinearities and especially asymmetries cannot be ignored, although their magnitude varies noticeably across countries.
作者
我是这篇论文的作者
点击您的名字以认领此论文并将其添加到您的个人资料中。
推荐
暂无数据