Importers, Exporters, and Exchange Rate Disconnect

Large exporters are simultaneously large importers. We show that this pattern is key to understanding low aggregate exchange rate pass-through as well as the variation in pass-through across exporters. We develop a theoretical framework with variable markups and imported inputs, which predicts that...

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Veröffentlicht in:	The American economic review 2014-07, Vol.104 (7), p.1942-1978
Hauptverfasser:	Amiti, Mary, Itskhoki, Oleg, Konings, Jozef
Format:	Artikel
Sprache:	eng
Schlagworte:	Central banks Costs Economic theory Economics Equilibrium Exchange rates Exporters Exports Foreign exchange rates Import prices Importers Imports International trade Marginal costs Market share Market shares Markups Productivity Studies Transaction costs Variable costs Variance Western Europe
Online-Zugang:	Volltext
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