G2TT
来源类型Discussion paper
规范类型论文
来源IDDP15397
DP15397 Exchange Rates and Prices: Evidence from the 2015 Swiss Franc Appreciation
Raphael Auer; Sarah Lein; Ariel Tomas Burstein
发表日期2020-10-22
出版年2020
语种英语
摘要We dissect the impact of a large and sudden exchange rate appreciation on Swiss border import prices, retail prices, and consumer expenditures on domestic and imported non-durable goods, following the removal of the EUR/CHF floor in January 2015. Cross-sectional variation in border price changes by currency of invoicing carries over to consumer prices and allocations, impacting retail prices of imports and competing domestic goods, as well as import expenditures. We provide measures of the sensitivity of retail import prices to border prices and the sensitivity of import shares to relative prices, which is higher when using retail prices than border prices.
主题International Macroeconomics and Finance ; International Trade and Regional Economics ; Monetary Economics and Fluctuations
关键词Large exchange rate shock Exchange rate pass-through Invoicing currency Expenditure switching Optimal price-setting Nominal rigidities
URLhttps://cepr.org/publications/dp15397
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/544383
推荐引用方式
GB/T 7714
Raphael Auer,Sarah Lein,Ariel Tomas Burstein. DP15397 Exchange Rates and Prices: Evidence from the 2015 Swiss Franc Appreciation. 2020.
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