How do different exporters react to exchange rate changes?

Quarterly Journal of Economics

Volumn 127, Issue 1, 2012, Pages 437-492

  Berman, Nicolas ^a   Martin, Philippe ^b   Mayer, Thierry ^b  

^a GRADUATE INSTITUTE OF INTERNATIONAL AND DEVELOPMENT STUDIES   (Switzerland)

^b SCIENCES PO   (France)

Author keywords

[No Author keywords available]

Indexed keywords

COMMODITY PRICE; DATA SET; DEMAND ELASTICITY; ECONOMETRICS; EXCHANGE RATE; EXPORT; HETEROGENEITY;

EID: 84863393449     PISSN: 00335533     EISSN: 15314650     Source Type: Journal    
DOI: 10.1093/qje/qjr057     Document Type: Article

References (50)

1. Angrist, Joshua, and Jrn-Steffen Pischke, Mostly Harmless Econometrics: An Empiricist's Companion (Princeton, N.J.: Princeton University Press, 2009).
2. Atkeson, Andrew, and Ariel Burstein, "Pricing-to-Market, Trade Costs, and International Relative Prices," American Economic Review, 98 (2008), 1998-2031
3. Auer, Raphael, and Thomas Chaney, "Exchange Rate Pass-Through in a Competitive Model of Pricing- to-Market," Journal of Money, Credit and Banking, 41 (2009), 151-175
4. Baldwin, Richard, and James Harrigan, "Zeros, Quality and Space: Trade Theory and Trade Evidence," American Economic Journal: Microeconomics, 3 (2011), 131
5. Bergin, Paul, and Robert Feenstra, "Pricing-to-Market, Staggered Prices and Real Exchange Rate Persistence," Journal of International Economics, 54 (2001), 333-359
6. Bernard, Andrew, Stephen Redding, and P. Schott, "Multiproduct Firms and Trade Liberalization," Quarterly Journal of Economics, 126 (2011), 1271-1318.
7. Berthou, Antoine, and Lionel Fontagne, "The Euro and the Intensive and Extensive Margins of Trade: Evidence from French Firm Level Data," Working paper 2008-06, CEPII, 2008
8. Broda, Christian, and David Weinstein, "Globalization and the Gains from Variety," Quarterly Journal of Economics, 121 (2006), 541-585
9. Burstein, Ariel, Joao Neves, and Sergio Rebelo, "Distribution Costs and Real Exchange Rate Dynamics during Exchange-Rate-Based Stabilizations," Journal of Monetary Economics, 50 (2003), 1189-1214
10. Campa, Jose, and Linda Goldberg, "Exchange Rate Pass Through into Import Prices," Review of Economics and Statistics, 87 (2005), 679-690
11. Chaney, Thomas, "Distorted Gravity: The Intensive and Extensive Margins of International Trade," American Economic Review, 98 (2008), 1707-1721
12. Chatterjee, Arpita, Raphael Dix-Carneiro, and Jade Vichyanond, "Multi-Product Firms and Exchange Rate Fluctuations," Mimeo, 2011
13. Corsetti, Giancarlo, and Luca Dedola, "A Macroeconomic Model of International Price Discrimination," Journal of International Economics, 67 (2005), 129-155
14. Crucini, Mario, and Mototsugu Shintani, "Persistence in Law-of-One-Price Deviations: Evidence from Micro-Data," Journal of Monetary Economics, 55 (2008), 629-644
15. Davis, Steven, John Haltiwanger, and Scott Schuch, Job Creation and Destruction (Cambridge, MA: MIT Press, 1996)
16. Dekle, Robert, Hyeok Jeong, and Heajin Ryoo, "A Re-Examination of the Exchange Rate Disconnect Puzzle: Evidence from Firm Level Data," Mimeo, University of Southern California, 2009
17. Eaton, Jonathan, Marcela Eslava, Maurice Kugler, and James Tybout, "Export Dynamics in Colombia: Firm-Level Evidence," Working Paper 13531, NBER, 2007
18. Eaton, Jonathan, Samuel Kortum, and Francis Kramarz, "Dissecting Trade: Firms, Industries, and Export Destinations," American Economic Review Papers and Proceedings, 94(2004), 150-154
19. Eaton, Jonathan, "An Anatomy of International Trade: Evidence from French Firms," Econometrica (2011), forthcoming
20. Ekholm, Karolina, Andreas Moxnes, and Karen-Helene Ulltveit-Moe, "Manufacturing Restructuring and the Role of Real Exchange Rate Shocks: A Firm Level Analysis," Discussion Paper no. 6904, CEPR, 2008.
21. Engel, Charles, "Equivalence Results for Optimal Pass-Through, Optimal Indexing to Exchange Rates, and Optimal Choice of Currency for Export Pricing," Journal of the European Economics Association, 4 (2006), 1249-1260
22. Feenstra, Robert, Joseph Gagnon, and Michael Knetter, "Market Share and Exchange Rate Pass-Through in World Automobile Trade," Journal of International Economics, 40 (1996), 187-207
23. Fitzgerald, Doireann, and Stephanie Haller, "Pricing-to-Market: Evidence from Plant-Level Prices," Mimeo, Stanford University, 2010
24. Gaulier, Guillaume, Amina Lahreche-Revil and Isabelle Mejean, "Structural Determinants of the Exchange-Rate Pass-Through," Working Paper 2006-03, CEPII, 2006
25. Goldberg, Linda, and Jose Campa, "The Sensitivity of the CPI to Exchange Rates: Distribution Margins, Imported Inputs, and Trade Exposure," Review of Economics and Statistics, 92 (2010), 392-407
26. Goldberg, Linda, and Cedric Tille, "Micro, Macro and Strategic Forces in International Trade Invoicing," Working Paper 15470, NBER, 2009
27. Goldberg, Pinelopi, and Michael Knetter, "Goods Prices and Exchange Rates: What Have We Learned?," Journal of Economic Literature, 35 (1997), 1243-1272
28. Goldberg, Pinelopi, and Frank Verboven, "The Evolution of Price Dispersion in the European Car Market," Review of Economic Studies, 68 (2001), 811-848
29. Gopinath, Gita, Pierre-Olivier Gourinchas, Chang-Tai Hsieh, and Nicholas Li, "International Prices, Costs, and Markup Differences," American Economic Review, 101(2011), 2450-2486
30. Gopinath, Gita, and Oleg Itskhoki, "Frequency of Price Adjustment and Pass-Through," Quarterly Journal of Economics, 125 (2010), 675-727
31. Gopinath, Gita, Oleg Itskhoki, and Roberto Rigobon, "Currency Choice and Exchange Rate Pass-Through," Working Paper 13432, NBER, 2009
32. Gopinath, Gita, and Roberto Rigobon, "Sticky Borders," Quarterly Journal of Economics, 123 (2008), 531-575
33. Gourinchas, Pierre-Olivier, "Exchange Rates Do Matter: French Job Reallocation and Exchange Rate Turbulence, 1984-1992," European Economic Review, 43 (1999), 1279-1316
34. Greenaway, David, Richard Kneller, and Xufai Zhang, "Exchange Rates and Exports: Evidence from Manufacturing Firms in the UK," Mimeo, University of Nottingham, 2007
35. Halpern, Laszlo, and Miklos Koren, "Pricing to Firm: An Analysis of Firm- and Product-Level Import Prices," Review of International Economics, 15 (2007), 574-591
36. Hellerstein, Rebecca, "Who Bears the Cost of a Change in the Exchange Rate? Pass-Through Accounting for the Case of Beer," Journal of International Economics, 76 (2008), 14-32
37. Hooper, Peter, Karen Johnson, and Jaime Marquez, "Trade Elasticities for the G-7 Countries," Princeton Studies in International Economics, 87, 2000
38. Imbs, Jean, and Isabelle Mejean, "Elasticity Optimism," Discussion Paper 7177, CEPR, 2009
39. Kotz, Samuel, Norman Lloyd Johnson, and N. Balakrishnan. Continuous Univari-ate Distributions, 2nd ed., vol. 1 (New York: Wiley, 1994).
40. Martin, Lourdes Moreno, and Diego Rodriguez Rodriguez, "Pricing-to-Market at Firm Level," Review of World Economics, 140 (2004), 302-320
41. Mayer, Thierry, Marc Melitz, and Gianmarco Ottaviano, "Market Size, Competition and the Product Mix of Exporters," Working Paper 16959, NBER, 2011
42. Mayer, Thierry, and Gianmarco Ottaviano, "The Happy Few: New Facts on the Internationalization of European Firms," Bruegel-CEPR EFIM Report, Bruegel Blueprint Series, 2007
43. Melitz, Marc, "The Impact of Trade on Intra-Industry Reallocations and Aggregate Industry Productivity," Econometrica, 71 (2003), 1695-1725
44. Melitz, Marc, and Gianmarco Ottaviano, "Market Size, Trade, and Productivity," Review of Economic Studies, 75 (2008), 295-316
45. Nakamura, Emi, and Jon Steinsson, "Lost in Transit: Product Replacement Bias and Pricing-to-Market," American Economic Review, 2011, forthcoming
46. Nakamura, Emi, and Dawit Zerom, "Accounting for Incomplete Pass-Through," Review of Economic Studies, 77 (2010), 1192-1230
47. Olley, George, and Ariel Pakes, "The Dynamics of Productivity in the Telecommunications Equipment Industry," Econometrica, 64 (1996), 1263-1298
48. Rodriguez Lopez, José Antonio, "Prices and Exchange Rates: A Theory of Disconnect," Review of Economic Studies (2011), forthcoming
49. Romalis, John, "NAFTA's and CUSFTA's Impact on International Trade," Review of Economics and Statistics, 89 (2007), 416-435
50. Verhoogen, Eric, "Trade, Quality Upgrading, and Wage Inequality in the Mexican Manufacturing Sector," Quarterly Journal of Economics, 123 (2008), 489-530