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A New Evidence for Exchange Rate Pass-through: Disaggregated Trade Data from Local Ports

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Author Info
Yushi Yoshida () (Faculty of Economics, Kyushu Sangyo University)

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Abstract

For the estimation of exchange rate pass-through (henceforth ERPT), except for few evidences based on firm-level data, even the most disaggregated level of national export data is still biased with aggregation over sub-regions within an exporting country. We investigate to what extent this aggregation within product category is biased by comparing ERPT estimates across local ports. We use monthly exports at the HS 9-digit level from January 1988 to December 2005 for five major Japanese ports. In a panel data regression framework we control for exporting industry and importing country. Statistical tests provide strong evidence that export prices are set at different levels across local ports and that they correspond differently with respect to fluctuations of exchange rates.

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File URL: http://www.kyusan-u.ac.jp/J/yushi/MyPapers/dp31R.pdf
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File URL: http://www.ip.kyusan-u.ac.jp/keizai-kiyo/dp31.pdf
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Publisher Info
Paper provided by Kyushu Sangyo University, Faculty of Economics in its series Discussion Papers with number 31.

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Length: 36 pages
Date of creation: Jul 2008
Date of revision: Dec 2008
Publication status: Forthcoming in International Review of Economics and Finance, 2009
Handle: RePEc:kyu:dpaper:31

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Web page: http://www.ip.kyusan-u.ac.jp/keizai/
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Related research
Keywords: Exchange rate pass-through; Firm heterogeneity; Japanese trade; Port-level trade; pricing-to-market;

Find related papers by JEL classification:
F14 - International Economics - - Trade - - - Country and Industry Studies of Trade
F31 - International Economics - - International Finance - - - Foreign Exchange
F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Pinelopi Koujianou Goldberg & Michael M. Knetter, 1997. "Goods Prices and Exchange Rates: What Have We Learned?," Journal of Economic Literature, American Economic Association, vol. 35(3), pages 1243-1272, September. [Downloadable!] (restricted)
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  2. Dornbusch, Rudiger, 1987. "Exchange Rates and Prices," American Economic Review, American Economic Association, vol. 77(1), pages 93-106, March.
    Other versions:
  3. Guillaume Gaulier & Amina Lahrèche-Révil & Isabelle Méjean, 2008. "Exchange-rate pass-through at the product level," Canadian Journal of Economics, Canadian Economics Association, vol. 41(2), pages 425-449, May. [Downloadable!] (restricted)
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  4. Gagnon, Joseph E. & Knetter, Michael M., 1995. "Markup adjustment and exchange rate fluctuations: evidence from panel data on automobile exports," Journal of International Money and Finance, Elsevier, vol. 14(2), pages 289-310, April. [Downloadable!] (restricted)
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  5. Bernhofen, Daniel M. & Xu, Peng, 2000. "Exchange rates and market power: evidence from the petrochemical industry," Journal of International Economics, Elsevier, vol. 52(2), pages 283-297, December. [Downloadable!] (restricted)
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