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Exchange rate effects: A case study of the export performance of the Swiss agriculture and food sector

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  • Andreas Kohler
  • Ali Ferjani

Abstract

The Swiss franc appreciated strongly against the currencies of Switzerland's most important trading partners after the global financial crisis in 2008. This has raised the question of how sensitive Swiss exports are with respect to exchange rate movements. We analyse this question for exports of the Swiss agriculture and food sector, using both time series and dynamic panel data models based on data from 1999 to 2012. We find that in the long run a one per cent appreciation of the Swiss franc leads on average to a decrease in exports of agricultural and food products between 0.8 and 0.9 per cent. Our results suggest that on average, producers in the Swiss agriculture and food sector are able to successfully avoid price competition by differentiating their products, producing high†quality products for niche markets.

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  • Andreas Kohler & Ali Ferjani, 2018. "Exchange rate effects: A case study of the export performance of the Swiss agriculture and food sector," The World Economy, Wiley Blackwell, vol. 41(2), pages 494-518, February.
    • Handle: RePEc:bla:worlde:v:41:y:2018:i:2:p:494-518
    DOI: 10.1111/twec.12611
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    Cited by:

    1. Yantao Gao & Xilong Yao & Wenxi Wang & Xin Liu, 2019. "Dynamic effect of environmental tax on export trade: Based on DSGE mode," Energy & Environment, , vol. 30(7), pages 1275-1290, November.
    2. Tan Ngoc Vu & Chi Minh Ho & Thang Cong Nguyen & Duc Hong Vo, 2020. "The Determinants of Risk Transmission between Oil and Agricultural Prices: An IPVAR Approach," Agriculture, MDPI, vol. 10(4), pages 1-14, April.
    3. Liefert, William M & Mitchell, Lorraine & Seeley, Ralph, 2021. "Economic Crises and U.S. Agricultural Exports," Economic Research Report 327195, United States Department of Agriculture, Economic Research Service.

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