Stickiness, synchronization, and passthrough in intrafirm trade prices

• 成果类型: Article
• 署名作者: Neiman, Brent
• 署名单位: University of Chicago
• 刊物名称: JOURNAL OF MONETARY ECONOMICS
• ISSN/ISSBN: 0304-3932
• DOI: 10.1016/j.jmoneco.2010.02.002
• 发表日期: 2010
• 页码: 295-308
• 关键词: Exchange rate passthrough; intrafirm trade; Price stickiness; Transfer prices

摘要

About 40 percent of all U.S. international trades occurs between related parties, or intrafirm, such as trades between a parent and subsidiary of the same multinational corporation. This paper uses a transaction-level dataset that distinguishes arm's length from intrafirm trades to demonstrate that for differentiated products, intrafirm prices are characterized by (1) less stickiness, (2) less synchronization, and (3) greater exchange rate passthrough. (C) 2010 Elsevier B.V. All rights reserved.