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| Author | : Jiawen Yang |
| Publisher | : |
| Total Pages | : 60 |
| Release | : 1993 |
| Genre | : |
| ISBN | : |
| Author | : International Monetary Fund |
| Publisher | : International Monetary Fund |
| Total Pages | : 52 |
| Release | : 1988-08-09 |
| Genre | : Business & Economics |
| ISBN | : 1451955995 |
Using domestic and export price data and a framework of markup over cost, pricing behavior of U.S. and Japanese manufacturers is compared. Major export industries in Japan have higher productivity growth and lower pass-through coefficients than American exporters, who tend to price to domestic cost. Japanese firms seem to price discriminate between domestic, and export markets. Other related issues, including nonlinearity in pass-through and sectoral differences in productivity, are also examined.
| Author | : William R. Smith |
| Publisher | : Routledge |
| Total Pages | : 212 |
| Release | : 2017-04-21 |
| Genre | : Business & Economics |
| ISBN | : 135175131X |
Originally published in 1996. This study looks at the impact of exchange rate fluctuation on the pricing practices of foreign industries that import into the United States market. It presents several studies of the pass-through behaviour of over 100 disaggregated commodity groups with bi-lateral exchange rates. The book presents analysis of specific competitors and their individual pricing responses to exchange rate changes, adding significantly to pricing theory as well as being useful for marketers in predicting business responses.
| Author | : Jiawen Yang |
| Publisher | : |
| Total Pages | : 0 |
| Release | : 1998 |
| Genre | : |
| ISBN | : |
This paper provides a comparative study of how U.S. imports and exports prices react to exchange rate changes. It finds, through time series analyses, that while both U.S. and foreign exporters price to market, foreign exporters in general absorb a large portion of exchange rate changes by themselves while U.S.exporters pass through most of the exchange rate change to foreign currency prices. Pricing behavior of U.S. imports and, to a lesser extent, of U.S. exports varies across industries and such variation relates to industry characteristics such as market shares, product differentiation, and capital-to-labor ratio.
| Author | : Richard C. Marston |
| Publisher | : |
| Total Pages | : 56 |
| Release | : 1990 |
| Genre | : Manufactures |
| ISBN | : |
Relative price changes in Japanese and U.S. manufacturing are driven by two forces, productiviry growth which leads to secular changes in costs and exchange rate fluctuations which change relative prices between the two countries. In sectors where productivity growth is high, reductions in costs can neutralize exchange rate appreciations to keep prices competitive with those abroad, at least in the long run, But even in these sectors, exchange rate fluctuations are the dominant influence on relative competitiveness in the short run. Faced with swings in exchange rates, firms adopt defensive measures to defend their export markets. The paper presents estimates of "pricing to market" elasticities which suggest that firms lower their export prices in domestic currency relative to their domestic prices in order to limit the effects of currency appreciations. There is evidence that firms in both countries pursue such pricing strategies, but pricing to market is more extensive in Japan. In response to a appreciation of the yen, Japanese firms reduce their export prices in yen sharply so as to limit the pass-through of the appreciation into the dollar prices of their exports
| Author | : William H. Branson |
| Publisher | : |
| Total Pages | : 46 |
| Release | : 1989 |
| Genre | : Foreign exchange |
| ISBN | : |
This paper investigates the importance of markup behavior in Japanese manufacturing. According to the evidence presented, Japanese firms have varied the markups of prices over marginal costs in order to limit the effects of exchange rate changes on output. This behavior is quite different from that found in U.S. manufacturing where output and employment have borne the main impact of recent exchange rate changes. The paper examines markups in nine sectors of manufacturing which are major producers of exports. In all nine sectors, Japanese prices prove to be highly sensitive to foreign prices and exchange rates as well as to more traditional demand and supply variables. The paper shows that variable markups rather than high price elasticities account for this price behavior, since output is relatively insensitive to prices or exchange rates.
| Author | : Mr.Peter B. Clark |
| Publisher | : International Monetary Fund |
| Total Pages | : 40 |
| Release | : 1997-10-01 |
| Genre | : Business & Economics |
| ISBN | : 1451936621 |
This paper investigates the consequences of exchange rate volatility on the variability of export prices and quantities in the presence of market segmentation and pricing to market. Firms stabilize destination prices through systematic price discrimination, limiting the degree of exchange rate pass-through. Consequently, the variability of exchange rates is not fully translated into prices and quantities at the point of destination. Empirical estimates using aggregate price data for the G-7 industrial countries show incomplete pass-through in variances, with considerable variation among these countries. U.S. industry specific data also indicate incomplete pass-through in most cases, with considerable variation across industries.
| Author | : Jiawen Yang |
| Publisher | : |
| Total Pages | : 56 |
| Release | : 1995 |
| Genre | : Foreign exchange rates |
| ISBN | : |
| Author | : Michael Knetter |
| Publisher | : |
| Total Pages | : 21 |
| Release | : 1992 |
| Genre | : Export marketing |
| ISBN | : |
This paper measures the degree of price discrimination across export destinations that is associated with exchange rate changes using U.S., U.K., German and Japanese industry-level data. Given the industries sampled more price discrimination across destinations is observed in the U.K., German and Japanese data. For industries that match across source countries, however, behavior is very similar across source countries. Furthermore, destination-specific price adjustment on exports to the U.S. from Germany and Japan is similar to price adjustment observed on shipments to other destinations. Most variation in the data appears to be related to industry.
| Author | : International Monetary Fund |
| Publisher | : International Monetary Fund |
| Total Pages | : 24 |
| Release | : 1989-09-05 |
| Genre | : Business & Economics |
| ISBN | : 1451961391 |
When the exchange rate fluctuates and the market exhibits hysteresis, planning horizons of domestic and foreign competitors will matter in determining pass-through as well as relative market shares of these firms. Using the Cournot duopoly model, it is shown that if the foreign exporter is a long-term maximizer relative to the domestic firm, pass-through will be lower and average export penetration higher than otherwise.
