| 来源类型 | Discussion paper
|
| 规范类型 | 论文
|
| 来源ID | DP7534
|
| DP7534 Micro, Macro, and Strategic Forces in International Trade Invoicing |
| Linda Goldberg; Cedric Tille
|
| 发表日期 | 2009-11-08
|
| 出版年 | 2009
|
| 语种 | 英语
|
| 摘要 | The use of different currencies in the invoicing of international trade transactions plays a major role in the international transmission of economic fluctuations. Existing studies argue that an exporter?s invoicing choice reflects structural aspects of her industry, such as market share and the price sensitivity of demand, the hedging of marginal costs, due for instance to the use of imported inputs, and macroeconomic volatility. We use a new highly disaggregated dataset to assess the roles of the various invoicing determinants. We find support for the factors identified in the literature, and document a new feature, in the form of a link between shipments size and invoicing. Specifically, larger transactions are more likely to be invoiced in the importer?s currency. We offer a potential theoretical explanation for the empirical link between transaction size and invoicing by allowing invoicing to be set through a bargaining between exporters and importers, a feature that is absent from existing models despite its empirical relevance. |
| 主题 | International Macroeconomics
|
| 关键词 | International trade
Invoicing currency
Pass-through
Vehicle currency
|
| URL | https://cepr.org/publications/dp7534
|
| 来源智库 | Centre for Economic Policy Research (United Kingdom)
|
| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/536370
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推荐引用方式
GB/T 7714 |
Linda Goldberg,Cedric Tille. DP7534 Micro, Macro, and Strategic Forces in International Trade Invoicing. 2009.
|
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