English, Article, Journal or magazine article edition: Exchange-Rate Pass-Trough at the Product Level Guillaume Gaulier; Amina Lahreche-Revil; Isabelle Mejean

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Bookmark: http://trove.nla.gov.au/version/159032
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Exchange-Rate Pass-Trough at the Product Level
Author
  • Guillaume Gaulier
  • Amina Lahreche-Revil
  • Isabelle Mejean
Physical Description
  • preprint
Notes
  • This paper uses a detailed database to investigate exchange-rate pass-through at the product level, for a large number of countries. Since the database provides harmonized trade flows, pass-through in both export and import prices can be investigated consistently. The empirical analysis suggests that pricing behaviors are dichotomic: while pass-through is complete in 30 to 40% of sectors, there is significant pricing-to-market in the remaining ones. The average long-run pass-through coefficient is nevertheless quite high, close to 80% on average. This result however hides a strong heterogeneity of pass-through behaviors across sectors and exporting countries, and to a lesser extent across importers. Trying to disentangle composition effects from structural factors, the analysis suggests that a large part of cross-country differences is attributable to composition effects. Still, the pass-through is on average higher i) in volatile environments, ii) in less developed countries, iii) in little integrated markets.
  • Pass-through; pricing-to-market; product-level analysis; macroeconomic determinants; prices; sectors
  • RePEc:cii:cepidt:2006-02
Language
  • English
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