INVESTMENT PRICES AND EXCHANGE RATES: SOME BASIC FACTS
成果类型：
Article
署名作者：
Burstein, Ariel T.; Rebelo, Sergio; Neves, Joao C.
署名单位：
University of California System; University of California Los Angeles; Northwestern University; National Bureau of Economic Research; Centre for Economic Policy Research - UK; Universidade Catolica Portuguesa
刊物名称：
JOURNAL OF THE EUROPEAN ECONOMIC ASSOCIATION
ISSN/ISSBN：
1542-4766
DOI：
10.1162/154247604323068005
发表日期：
2004
页码：
302-309
关键词：
摘要：
This paper documents four basic facts about investment goods and investment prices. First, investment has a very significant nontradable component in the form of construction services. Second, distributions services (wholesaling, retailing, and transportation) are much less important for investment than for consumption. Third, the import content of investment is much larger than that of consumption. Finally, in the aftermath of three large devaluations, the rate of exchange rate pass-through is, perhaps not surprisingly, highest for imported equipment and lowest for construction services. (JEL: F41)
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