| 来源类型 | Discussion paper
|
| 规范类型 | 论文
|
| 来源ID | DP9744
|
| DP9744 Quality, Trade, and Exchange Rate Pass-Through |
| Natalie Chen; Luciana Juvenal
|
| 发表日期 | 2013-11-17
|
| 出版年 | 2013
|
| 语种 | 英语
|
| 摘要 | This paper investigates the heterogeneous response of exporters to real exchange rate fluctuations due to product quality. We model theoretically the effects of real exchange rate changes on the optimal price and quantity responses of firms that export multiple products with heterogeneous levels of quality. The model shows that the elasticity of demand perceived by exporters decreases with a real depreciation and with quality, leading to more pricing-to-market and to a smaller response of export volumes to a real depreciation for higher quality goods. We test empirically the predictions of the model by combining a unique data set of highly disaggregated Argentinean firm-level wine export values and volumes between 2002 and 2009 with experts wine ratings as a measure of quality. In response to a real depreciation, we find that firms significantly increase more their markups and less their export volumes for higher quality products, but only when exporting to high income destination countries. These findings remain robust to different measures of quality, samples, specifications, and to the potential endogeneity of quality. |
| 主题 | International Macroeconomics
; International Trade and Regional Economics
|
| 关键词 | Exchange rate pass-through
Exports
Firms
Pricing-to-market
Quality
Unit values
Wine
|
| URL | https://cepr.org/publications/dp9744
|
| 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/538580
|
推荐引用方式
GB/T 7714 |
Natalie Chen,Luciana Juvenal. DP9744 Quality, Trade, and Exchange Rate Pass-Through. 2013.
|
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