THE IMPACT OF A LARGE DEPRECIATION ON THE COST OF LIVING OF RICH AND POOR CONSUMERS

• 成果类型: Article
• 署名作者: Colicev, Anatoli; Hoste, Joris; Konings, Jozef
• 署名单位: University of Liverpool; University of Cambridge; Nazarbayev University; KU Leuven
• 刊物名称: INTERNATIONAL ECONOMIC REVIEW
• ISSN/ISSBN: 0020-6598
• DOI: 10.1111/iere.12720
• 发表日期: 2024
• 页码: 1625-1656
• 关键词: exchange-rate; product; prices; TRADE; GOODS; exporters; QUALITY; gains; rates; FIRMS

摘要

Using retailer scanner data, we investigate how a sharp and abrupt depreciation of the exchange rate affects consumers' cost of living. We find that the marginal cost of imported goods increased, whereas their retail markups decreased compared to domestic products. There was also a surge in the entry and exit of both foreign and local product varieties post-depreciation. Wealthier consumers, who spend more on imports, are hit harder by higher marginal costs but benefit from reduced markups and increased product diversity, unlike their less affluent counterparts.