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Tuesday, July 28, 2020 | History

2 edition of Exchange rate pass-through and industry characteristics found in the catalog.

Exchange rate pass-through and industry characteristics

Guoliang Wang

Exchange rate pass-through and industry characteristics

the case of Taiwan"s exports of midstream petrochemical products

by Guoliang Wang

  • 114 Want to read
  • 13 Currently reading

Published by National Bureau of Economic Research in Cambridge, MA .
Written in English

    Subjects:
  • Foreign exchange rates -- Taiwan.,
  • Petroleum chemicals industry -- Prices -- Taiwan -- Effect of foreign exchange rates on.,
  • Exports -- Prices -- Taiwan -- Effect of foreign exchange rates on.

  • Edition Notes

    StatementKuo-Liang Wang, Chung-Shu Wu.
    SeriesNBER working paper series -- no.5749, Working paper series (National Bureau of Economic Research) -- working paper no. 5749.
    ContributionsWu, Chung-Shu., National Bureau of Economic Research.
    The Physical Object
    Pagination28 p. ;
    Number of Pages28
    ID Numbers
    Open LibraryOL22411905M

      "Exchange Rate Pass-Through in the s: The Case of U.S. Imports of Manufactures," Brookings Papers on Economic Activity, vol. (no. 1), pp. Ihrig, Jane E., Mario Marazzi, and Alexander D. Rothenberg (). "Exchange Rate Pass-through in the G-7 Countries," International Finance Discussion Papers Washington: Board of. by monetary shocks come with a pass-through of up to 25 percent. Food inflation is equally affected by genuine exchange rate shocks, but appears more reactive to changes in copper prices or the money supply. Historical vari-ance decomposition shows that, across periods, the main drivers of exchange rate fluctuations varied substantially.

    ‘ ‘ partial’ ’ exchange rate pass-through in the literature. Ex- through is related to industry characteristics such as product substitutability, the elasticity of marginal cost, and the.   Figure 1 reports the estimated oil price pass-through in the US and in the EA, where the left plot shows the estimated idiosyncratic (direct) pass-through, and the right plot shows the common/macroeconomic (indirect) looking at Figure 1 it is clear that disentangling these two components is crucial when estimating the oil price pass-through into core inflation, as the .

    Check your understanding of characteristics and types of exchange rates in this quiz/worksheet combo. Practice questions assess your knowledge of. level of the real exchange rate, we demonstrate that this elasticity varies by industry.5 We argue that several industry-specific characteristics determine the protectionist response to changes in the exchange rate, including the extent of exchange-rate pass-through, the level of import.


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Exchange rate pass-through and industry characteristics by Guoliang Wang Download PDF EPUB FB2

Exchange Rate Pass-through and Industry Characteristics: The Case of Taiwan's Exports of Midstream Petrochemical Products, Kuo-Liang Wang, Chung-Shu Wu. in Changes in Exchange Rates in Rapidly Developing Countries: Theory, Practice, and Policy Issues, Ito and Krueger.

Users who downloaded this paper also downloaded* these:Cited by: 4. Get this from a library. Exchange rate pass-through and industry characteristics: the case of Taiwan's exports of midstream petrochemical products. [Kuo-liang Wang; Chung-shu Wu; National Bureau of Economic Research.].

Kuo-Liang Wang & Chung-Shu Wu, "Exchange Rate Pass-through and Industry Characteristics: The Case of Taiwan's Exports of Midstream Petrochemical Products," NBER Working PapersNational Bureau of Economic Research, Inc. Handle: RePEc:nbr:nberwo Exchange Rate Pass-through and Industry Characteristics: The Case of Taiwan's Exports of Midstream Petrochemical Products Kuo-Liang Wang, Chung-Shu Wu.

Chapter in NBER book Changes in Exchange Rates in Rapidly Developing Countries: Theory, Practice, and Policy Issues (), Takatoshi Ito and Anne O. Krueger, editors (p. - ) Published in January by University of Cited by: 4.

Exchange Rate Pass-through and Industry Characteristics: The Case of Taiwan's Exports of Midstream Petrochemical Products. By Kuo-Liang Wang and Chung-Shu Wu. Get PDF (1 MB) Abstract. Based on survey data of 22 midstream petrochemical industries in Taiwan, the empirical results of the export price, the markup ratio and the price-cost Author: Kuo-Liang Wang and Chung-Shu Wu.

The firm-specific rate of pass-through then has a similar decomposition as in Proposition 2: It depends on the interaction of firm-specific heterogeneity in cost pass-through and the reaction to competitor prices, and on the fact that exchange rates only affect the.

First, we provide results that link two closely related literatures on firm characteristics and exchange rate pass-through, and currency of invoicing and pass-through.

We show that there is significant within- and across-industry heterogeneity in the currency of invoice of exports of Canadian goods to the U.S. and, further, in the degree of. This paper focuses on the pass-through of exchange rate uctuations into prices of nal goods and services, and examines whether contrasting pass-through rates are associated with regional-and/or product-speci c characteristics.

Using CPI microdata, we estimate industry-speci c rates of pass-through across regions in Mexico. This paper investigates exchange rate pass-through into consumer prices by considering the nature of the shock triggering currency movements. By individually estimating structural factor-augmented vector autoregression models for 55 countries, monetary policy shocks are shown to be associated with higher exchange rate pass-through measures compared to other domestic shocks.

Exchange Rate Pass-through and Industry Characteristics: The Case of Taiwan's Exports of Midstream Petrochemical Products: Kuo-Liang Wang, Chung-Shu Wu (p. - ) (bibliographic info) (Working Paper version) 9. Evaluation of Korea's Exchange Rate Policy: Sang-Woo Nam, Se-Jong Kim (p.

- ) (bibliographic info)   The bargaining process between exporters and importers is key to understand the degree of exchange rate pass-through. Following the framework established by Goldberg and Tille (), we use a Colombian exporter–importer matched data from to to identify the relative bargaining power between exporters and importers, and investigate its effect on exchange rate pass-through.

examination of the linkages between exchange rates and industry investment in plant and equipment. of exchange rates. 5 to-market characteristics of countries and industries.

On balance, foreign producers appear to adjust and empirical literature on exchange-rate pass through. Market Structure and Exchange Rate Pass-Through* Raphael A. Auer Raphael S. Schoenle Swiss National Bank Brandeis University October Abstract In this paper, we examine the extent to which market structure and the way in which it affects pricing decisions of profit-maximizing firms can explain incomplete exchange rate pass-through.

Exchange-rate pass-through (ERPT) is a measure of how responsive international prices are to changes in exchange rates. Formally, exchange-rate pass-through is the elasticity of local-currency import prices with respect to the local-currency price of foreign currency.

It is often measured as the percentage change, in the local currency, of import prices resulting from a one percent change in.

Several industry-specific characteristics determine the protectionist response to exchange rate changes, including the degree of exchange-rate pass-through, the level of import penetration, and the share of imported intermediate inputs in total industry inputs. We find that the marginal effect of currency appreciation on the number of industry.

Pollard and Coughlin () analyzed exchange rate pass-through in US import prices in 30 industries to examine whether the direction and the size of a change in the exchange rate affect the pass-through. They estimated a relationship between import prices in log-difference and usual determinants and included two dummy variables that separate.

The exchange rate is a crucial variable linking a nation’s domestic economy to the international market. Thus choice of an exchange rate regime is a central component in the economic policy of developing countries and a key factor affecting economic growth.

Historically, most developing nations have employed strict exchange rate controls and heavy protection of domestic industry-policies now. industry characteristics in the studies of the exchange rate pass-through effects.q A number of important features should be noted when discussing the exchange rate pass-through effects of Taiwan’s petrochemical industry.

First, though it is a large-scale industry in Taiwan, it only exports a relatively small portion of its total. The interest rate pass-through describes how changes in a reference rate (the monetary policy, money market, or T-bill rate) transmit to bank lending rates.

This paper reviews the empirical literature on the interest rate pass-through and systematizes it by means of meta-analysis and meta-regressions. This book describes and evaluates the literature on exchange rate economics.

It provides a wide-ranging survey, with background on the history of international monetary regimes and the institutional characteristics of foreign exchange markets, an overview of the development of conceptual and empirical models of exchange rate behavior, and perspectives on the key issues that policymakers.

Exchange Rate Pass-Through I Let G denote the elasticity of the optimal flexible price markup, a denote the the constant share of intermediate inputs in production, and g H denote home bias)If domestic wages are rigid, productivity is unchanged, all the Home/foreign currency j exchange rates .of exporters to exchange rate shocks.5 However, evidence on the role of product-level char-acteristics in explaining heterogeneous pass-through remains scarce.

In order to fill this gap, this paper explores how incomplete pass-through can be explained by the quality of the goods exported. Countries with higher rates of exchange rate volatility have higher pass-through elasticities, although macroeconomic variables have played a minor role in the evolution of pass-through elasticities over time.

Far more important for pass-through changes in these countries have been the dramatic shifts in the composition of country import bundles.