Exchange Rate Pass-through in China: A Cost-Push Input-Output Price Model

被引：0
作者：
Yuwan Duan
Yanping Zhao
Jakob de Haan
机构：
[1] Central University of Finance and Economics,School of International Trade and Economics
[2] Ocean University of China,School of Economics
[3] Institue of Marine Economy of Ocean University of China,undefined
[4] De Nederlandsche Bank,undefined
[5] University of Groningen,undefined
[6] CESifo,undefined
来源：
Open Economies Review | 2020年 / 31卷
关键词：
RMB appreciation; Input-output model; Export prices; Domestic prices; F31; F41;
D O I：
暂无
中图分类号：
学科分类号：
摘要：
Relying on a cost-push input-output model for China, we estimate the exchange rate pass-through to both domestic prices and export prices at the industry level. Our empirical results indicate that the decline of the RMB price in the processing exports sector in response to an RMB appreciation is larger than that in the non-processing exports sector, which, in turn, is larger than the decline of the consumer price indexes. Our cross-sector analysis also suggests that exchange rate changes have the lowest impact on prices in capital- and technology-insensitive industries.
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页码：513 / 528
页数：15
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