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The Response Of Exchange Rate Pass-Through To Market Concentration In A Small Economy: The Evidence From Korea

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  • Jaewoo Lee

Abstract

This paper finds that domestic market concentration in Korea, a small country, systematically affects pass-through of individual industries. The estimates suggest that exchange rates are only partially passed on to import prices in Korea. The evidence implies that imperfect competition is relevant for the exchange rate pass-through, even in a small economy. This finding has important implications for issues such as inflationary effects of depreciation and the effect of trade liberalization. © 1997 by the President and Fellows of Harvard College and the Massachusetts Institute of Technology

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File URL: http://www.mitpressjournals.org/doi/pdf/10.1162/003465397556485
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Bibliographic Info

Article provided by MIT Press in its journal The Review of Economics and Statistics.

Volume (Year): 79 (1997)
Issue (Month): 1 (February)
Pages: 142-145

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Handle: RePEc:tpr:restat:v:79:y:1997:i:1:p:142-145

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Web page: http://mitpress.mit.edu/journals/

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Cited by:
  1. Sushanta Mallick & Helena Marques, 2007. "Pass-through of Exchange Rate and Tariffs into Import Prices of India: Currency Depreciation versus Import Liberalisation," Working Papers 3, Queen Mary, University of London, School of Business and Management, Centre for Globalisation Research.
  2. Sara Lemos, 2004. "The Effects of the Minimum Wage on Prices in Brazil," Labor and Demography 0403011, EconWPA.
  3. Helena Marques & Sushanta Mallick, 2004. "Sectoral Exchange Rate Pass-through: A Tale of Two Policy Regimes in India," Discussion Paper Series 2004_12, Department of Economics, Loughborough University, revised Mar 2004.
  4. Andreas Billmeier & Dalia Hakura, 2008. "Trade Elasticities in the Middle East and Central Asia," IMF Working Papers 08/216, International Monetary Fund.
  5. Lourdes Martín & Diego Rodríguez, 2004. "Pricing to market at firm level," Review of World Economics (Weltwirtschaftliches Archiv), Springer, vol. 140(2), pages 302-320, June.
  6. Daniel Aaronson, 1997. "Price pass-through and minimum wages," Working Paper Series, Macroeconomic Issues WP-97-03, Federal Reserve Bank of Chicago.
  7. Martins Bitans, 2004. "Pass-Through of Exchange Rates to Domestic Prices in East European Countries and the Role of Economic Enviroment," Working Papers 2004/04, Latvijas Banka.
  8. Bowe, Michael & Saltvedt, Thina M., 2004. "Currency invoicing practices, exchange rate volatility and pricing-to-market: evidence from product level data," International Business Review, Elsevier, vol. 13(3), pages 281-308, June.
  9. Adolfson, Malin, 1999. "Swedish Export Price Determination: Pricing to Market Shares?," Working Paper Series in Economics and Finance 306, Stockholm School of Economics.
  10. Arslan Razmi, 2005. "The Contractionary Short-Run Effects of Nominal Devaluation in Developing Countries: Some Neglected Nuances," UMASS Amherst Economics Working Papers 2005-09, University of Massachusetts Amherst, Department of Economics, revised Sep 2006.
  11. Baldwin, John R. & Yan, Beiling, 2008. "Domestic and foreign influences on Canadian prices," International Review of Economics & Finance, Elsevier, vol. 17(4), pages 546-557, October.
  12. Sara lemos, 2004. "The Effect of the Minimum Wage on Prices," Discussion Papers in Economics 04/7, Department of Economics, University of Leicester.
  13. Mallick, Sushanta & Marques, Helena, 2012. "Pricing to market with trade liberalization: The role of market heterogeneity and product differentiation in India’s exports," Journal of International Money and Finance, Elsevier, vol. 31(2), pages 310-336.

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