Exchange Rate Pass-Through and the Role of Market Shares

被引：1

作者：

Malenbaum M. ^{[1
]}

机构：

[1] Iona College, 715 North Ave, New Rochelle, 10801, NY

来源：

Journal of Industry, Competition and Trade | 2018年 / 18卷 / 2期

关键词：

Competition; Exchange rates; Import prices; International trade; Market share;

D O I：

10.1007/s10842-017-0256-1

中图分类号：

学科分类号：

摘要：

This paper examines the effects of changing market shares on exchange rate pass-through to US import prices. Based on a static model of imperfect competition, I predict that a country with a larger share of a host’s import market will have lower pass-through than its competitors. Using highly disaggregated data on US imports, I implement rolling regressions to calculate unique quarterly values of pass-through for specific goods from each exporting country. These values are compared across market shares, indicating a general trend of decreasing pass-through for larger shares. Most specifically, as predicted by the model, the country holding the largest share of the market has significantly lower pass-through than its competitors. The negative relationship between pass-through and market share holds across most categories of goods, most notably the larger categories of imports. Lastly, I show the market share effect is stronger following larger fluctuations in the exchange rate, particularly after large dollar appreciations. © 2017, Springer Science+Business Media, LLC.

引用

页码：151 / 185

页数：34

共 37 条

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