The currency denomination of exports - A questionnaire study

• 成果类型: Article
• 署名作者: Friberg, Richard; Wilander, Fredrik
• 署名单位: Stockholm School of Economics
• 刊物名称: JOURNAL OF INTERNATIONAL ECONOMICS
• ISSN/ISSBN: 0022-1996
• DOI: 10.1016/j.jinteco.2007.09.003
• 发表日期: 2008
• 页码: 54-69
• 关键词: Invoicing currency; exchange rate pass-through; price setting currency; exchange rate exposure; Nominal rigidity

摘要

We report survey results on the currency choice of a random sample of Swedish exporters. We find that for an overwhelming share of exports, the price, invoice and settlement currency is the same. The currency of the customer is the most used, with Swedish kronor and vehicle currencies accounting for approximately equal shares. Currency choice is similar for intra-firm and between-firm trade. We also find that negotiations are important for both the price and for the currency choice. A minority of firms use posted prices for their main exports - the median price adjustment for those firms is once per year. (C) 2007 Elsevier B.V. All rights reserved.