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Invoicing-Currency Effects in the Pricing of Japanese Exports of Manufactures

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  • Michael Bleaney

Abstract

The ratio of Japanese export prices to the domestic output price of manufacturers is sensitive to the real exchange rate of the U.S. dollar as well as to that of the yen in the short run. In the long run, however, only the yen real exchange rate is significant. These findings are attributed to the use of the U.S. dollar as an invoicing currency for a large proportion of Japanese exports (even those destined for non-U.S. markets), in conjunction with lags between price-setting and delivery.

Suggested Citation

  • Michael Bleaney, 1997. "Invoicing-Currency Effects in the Pricing of Japanese Exports of Manufactures," Canadian Journal of Economics, Canadian Economics Association, vol. 30(4), pages 968-974, November.
  • Handle: RePEc:cje:issued:v:30:y:1997:i:4:p:968-74
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    References listed on IDEAS

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    Cited by:

    1. Sushanta Mallick & Helena Marques, 2008. "Passthrough of Exchange Rate and Tariffs into Import Prices of India: Currency Depreciation versus Import Liberalization," Review of International Economics, Wiley Blackwell, vol. 16(4), pages 765-782, September.
    2. Athukorala, Premachandra & Menon, Jayant, 1994. "Pricing to Market Behaviour and Exchange Rate Pass-Through in Japanese Exports," Economic Journal, Royal Economic Society, vol. 104(423), pages 271-281, March.
    3. David C. Parsley, 2004. "Pricing in International Markets: a "Small-country" Benchmark," Review of International Economics, Wiley Blackwell, pages 509-524.
    4. David C. Parsley, 2003. "Exchange rate pass-through in a small open economy: Panel evidence from Hong Kong," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 8(2), pages 99-107.
    5. Mallick, Sushanta & Marques, Helena, 2010. "Data frequency and exchange rate pass-through: Evidence from India's exports," International Review of Economics & Finance, Elsevier, vol. 19(1), pages 13-22, January.
    6. Athukorala, Premachandra & Menon, Jayant, 1995. "Exchange Rates and Strategic Pricing: The Case of Swedish Machinery Exports," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 57(4), pages 533-546, November.

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