G2TT
来源类型Discussion paper
规范类型论文
来源IDDP7552
DP7552 Out of Sight, Out of Mind: Migration, Entrepreneurship and Social Capital
Yves Zenou; Jackline Wahba
发表日期2009-11-15
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
URLhttps://cepr.org/publications/dp7552
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/536388
推荐引用方式
GB/T 7714
Yves Zenou,Jackline Wahba. DP7552 Out of Sight, Out of Mind: Migration, Entrepreneurship and Social Capital. 2009.
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