Global influences on UK manufacturing prices: 1970-2000

被引：4

作者：

Coutts, Ken

Norman, Neville R.

机构：

[1] Univ Cambridge, Fac Econ, Cambridge CB3 9DD, England

[2] Univ Melbourne, Dept Econ, Melbourne, Vic 3010, Australia

来源：

EUROPEAN ECONOMIC REVIEW | 2007年 / 51卷 / 05期

关键词：

pricing; global influences; estimation; tariffs; exchange rates;

D O I：

10.1016/j.euroecorev.2006.08.001

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We introduce the first consistent series of domestic-product and related import price indices at the industry level for the UK, using the data to analyse both domestic and international determinants of UK manufactured product prices. Foreign influences on UK prices in domestic markets are always present, but domestic cost movements dominate. We show that the pass-through of world-price, tariff and exchange rate changes into product prices is partial in general and varies markedly between product categories. Standard tariff and exchange rate theories overstate price responses to global pricing determinants and fail to allow for variation between industrial sectors. Such theories can mislead when used for policy analysis and prediction. (c) 2006 Elsevier B.V. All rights reserved.

引用

页码：1205 / 1221

页数：17

共 17 条

[1] An empirical model of pricing, market share and market conduct: An application to import competition in US manufacturing [J].