Quality, trade, and exchange rate pass-through

被引：93
作者：
Chen, Natalie [1 ,2 ,3 ]
Juvenal, Luciana [4 ]
机构：
[1] Univ Warwick, CAGE, Coventry CV4 7AL, W Midlands, England
[2] CESifo, Munich, Germany
[3] CEPR, London, England
[4] Int Monetary Fund, Washington, DC 20431 USA
来源：
JOURNAL OF INTERNATIONAL ECONOMICS | 2016年 / 100卷
关键词：
Distribution costs; Exchange rate pass-through; Heterogeneity; Pricing-to-market; Quality; Wine; PRICING-TO-MARKET; PRODUCT QUALITY; INTERNATIONAL-TRADE; PRICES; COMPETITION; MARKUPS; COSTS; SIZE; INEQUALITY; EXPORTERS;
D O I：
10.1016/j.jinteco.2016.02.003
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
We investigate theoretically and empirically the effects of real exchange rate changes on the behavior of firms exporting multiple products with heterogeneous levels of quality. Our model, which features a demand elasticity that falls with quality, predicts more pricing-to-market and a smaller response of export volumes to a real depreciation for higher quality goods. We provide strong support for the model predictions using a unique data set of Argentinean firm-level wine export values and volumes between 2002 and 2009 combined with experts wine ratings to measure quality. The heterogeneity we find in the response of export prices and volumes to changes in exchange rates remains robust to alternative measures of quality, samples, and specifications. (c) 2016 Elsevier B.V. All rights reserved.
引用
收藏
页码：61 / 80
页数：20
相关论文
共 89 条
[1]   Pricing-to-Market and the Failure of Absolute PPP [J].
Alessandria, George ;
Kaboski, Joseph P. .
AMERICAN ECONOMIC JOURNAL-MACROECONOMICS, 2011, 3 (01) :91-127
[2]   Importers, Exporters, and Exchange Rate Disconnect [J].
Amiti, Mary ;
Itskhoki, Oleg ;
Konings, Jozef .
AMERICAN ECONOMIC REVIEW, 2014, 104 (07) :1942-1978
[3]   IMPORT COMPETITION AND QUALITY UPGRADING [J].
Amiti, Mary ;
Khandelwal, Amit K. .
REVIEW OF ECONOMICS AND STATISTICS, 2013, 95 (02) :476-490
[4]  
Anderson K., 2011, Global wine markets, 1961 to 2009: a statistical compendium
[5]  
[Anonymous], 201110 CEPII
[6]  
Antoniades A., 2015, INT EC REV IN PRESS
[7]  
Artopoulos A., 2011, 16947 NBER
[8]  
Ashenfelter O., 1999, Chance, V12, P16, DOI DOI 10.1080/09332480.1999.10542152
[9]   Predicting the quality and prices of Bordeaux wine [J].
Ashenfelter, Orley .
ECONOMIC JOURNAL, 2008, 118 (529) :F174-F184
[10]   Pricing-to-Market, Trade Costs, and International Relative Prices [J].
Atkeson, Andrew ;
Burstein, Ariel .
AMERICAN ECONOMIC REVIEW, 2008, 98 (05) :1998-2031
123456789