The Yuanâ€™s Exchange Rates and Pass-through Effects on the Prices of Japanese and US Imports
AbstractThis paper estimated the pass-through effects of yuanâ€™s exchange rates on prices of the US and Japanese imports from the Peopleâ€™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; Peopleâ€™s Republic of China; import;
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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.
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Working Papers, New York University, Leonard N. Stern School of Business, Department of Economics
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- Robert J. Vigfusson & Nathan Sheets & Joseph Gagnon, 2007. "Exchange rate pass-through to export prices: assessing some cross-country evidence," International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) 902, Board of Governors of the Federal Reserve System (U.S.).
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