The Yuan’s Exchange Rates and Pass-through Effects on the Prices of Japanese and US Imports
AbstractThis paper estimated the pass-through effects of yuan’s exchange rates on prices of the US and Japanese imports from the People’s Republic of China (PRC). Empirical results show that, a 1% nominal appreciation of the yuan would result in a 0.23% increase in prices of the US imports in the short run and 0.47% in the long run. Japanese import prices were relatively more responsive to changes of the bilateral exchange rates between the yuan and the yen. For a 1% nominal appreciation of the yuan against the yen, Japanese import prices would be expected to rise 0.55% in the short run and 0.99%, a complete pass-through, in the long run. [ADBI Working Paper 216]
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Date of creation: Nov 2010
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exchange rates; US; Japanese; People’s Republic of China; import;
Other versions of this item:
- Xing, Yuqing, 2010. "The Yuan's Exchange Rates and Pass-through Effects on the Prices of Japanese and US Imports," ADBI Working Papers 216, Asian Development Bank Institute.
- F31 - International Economics - - International Finance - - - Foreign Exchange
- F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
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- Willem Thorbecke & Gordon Smith, 2010. "How Would an Appreciation of the Renminbi and Other East Asian Currencies Affect China's Exports?," Review of International Economics, Wiley Blackwell, vol. 18(1), pages 95-108, 02.
- Robert J. Vigfusson & Nathan Sheets & Joseph Gagnon, 2007. "Exchange rate pass-through to export prices: assessing some cross-country evidence," International Finance Discussion Papers 902, Board of Governors of the Federal Reserve System (U.S.).
- Jiawen Yang, 1992.
"Exchange Rate Pass-Through in U.S. Manufacturing Industries,"
92-28, New York University, Leonard N. Stern School of Business, Department of Economics.
- Jiawen Yang, 1997. "Exchange Rate Pass-Through In U.S. Manufacturing Industries," The Review of Economics and Statistics, MIT Press, vol. 79(1), pages 95-104, February.
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