| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w19651 |
| 来源ID | Working Paper 19651 |
| Volatility and Pass-through | |
| David Berger; Joseph S. Vavra | |
| 发表日期 | 2013-11-14 |
| 出版年 | 2013 |
| 语种 | 英语 |
| 摘要 | What drives countercyclical volatility? A large literature has documented that many economic variables are more disperse in recessions, but this could either occur because shocks get bigger or because firms respond more to shocks which are the same size. Existing evidence that the dispersion of endogenous variables rises in recessions cannot tell us which of volatility or responsiveness is getting bigger, and these two explanations have very different policy implications. However, we document new facts in the open economy environment and show that they can be used to disentangle these explanations. In particular, we use confidential BLS micro data to show that there is a robust positive relationship between exchange rate pass-through and the dispersion of item-level price changes. We then argue that changes in responsiveness can explain this fact while volatility shocks cannot. |
| 主题 | Macroeconomics ; Macroeconomic Models ; Business Cycles ; International Economics ; International Finance |
| URL | https://www.nber.org/papers/w19651 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/577325 |
| 推荐引用方式 GB/T 7714 | David Berger,Joseph S. Vavra. Volatility and Pass-through. 2013. |
| 条目包含的文件 | 条目无相关文件。 | |||||
| 个性服务 |
| 推荐该条目 |
| 保存到收藏夹 |
| 导出为Endnote文件 |
| 谷歌学术 |
| 谷歌学术中相似的文章 |
| [David Berger]的文章 |
| [Joseph S. Vavra]的文章 |
| 百度学术 |
| 百度学术中相似的文章 |
| [David Berger]的文章 |
| [Joseph S. Vavra]的文章 |
| 必应学术 |
| 必应学术中相似的文章 |
| [David Berger]的文章 |
| [Joseph S. Vavra]的文章 |
| 相关权益政策 |
| 暂无数据 |
| 收藏/分享 |
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
