| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP15397 |
| 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 |
| URL | https://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. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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