Exchange rate pass-through and dynamic oligopoly: an empirical investigation

• 成果类型: Article
• 署名作者: Gross, DM; Schmitt, N
• 署名单位: International Monetary Fund; Simon Fraser University
• 刊物名称: JOURNAL OF INTERNATIONAL ECONOMICS
• ISSN/ISSBN: 0022-1996
• DOI: 10.1016/S0022-1996(99)00028-8
• 发表日期: 2000
• 页码: 89-112
• 关键词: exchange rate pass-through; oligopoly; international trade

摘要

This paper explicitly takes into account the dynamic oligopolistic rivalry among source producers to evaluate the degree of exchange-rate pass-through. Using recent time-series techniques for the case of imported automobiles in Switzerland, the results show that prices are strategic complements and that the degree of pass-through is lower in the long run than in the short run. This is due to the fact that, although some rivals match long-term price changes, others do not, inducing the producer who faces a change in exchange rate to absorb a greater proportion of the variation. The degrees of pass-through are also low with respect to other studies which do not endogenize pricing behavior. (C) 2000 Elsevier Science B.V. All rights reserved.