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Global value chain participation and exchange rate pass-through to export and import prices

Author

Listed:
  • Georgiadis, Georgios
  • Gräb, Johannes

Abstract

This article discusses the hypothesis that part of the decline in exchange rate pass-through to import prices has been the result of the rise of global value chains. JEL Classification: F13, F14, F32, F41

Suggested Citation

  • Georgiadis, Georgios & Gräb, Johannes, 2019. "Global value chain participation and exchange rate pass-through to export and import prices," Economic Bulletin Articles, European Central Bank, vol. 5.
    • Handle: RePEc:ecb:ecbart:2019:0005:1
    Note: 2435756
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    Citations

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    Cited by:

    1. repec:ocp:rpaper:rp-0124 is not listed on IDEAS
    2. de Soyres, François & Frohm, Erik & Gunnella, Vanessa & Pavlova, Elena, 2021. "Bought, sold and bought again: The impact of complex value chains on export elasticities," European Economic Review, Elsevier, vol. 140(C).
    3. Jaromír Baxa & Michal Paulus, 2024. "Exchange rate misalignments, growth, and institutions," Empirical Economics, Springer, vol. 67(4), pages 1705-1799, October.
    4. Georgiadis, Georgios & Schumann, Ben, 2021. "Dominant-currency pricing and the global output spillovers from US dollar appreciation," Journal of International Economics, Elsevier, vol. 133(C).
    5. Lodge, David & Pérez, Javier J. & Albrizio, Silvia & Everett, Mary & De Bandt, Olivier & Georgiadis, Georgios & Ca' Zorzi, Michele & Lastauskas, Povilas & Carluccio, Juan & Parrága, Susana & Carvalho,, 2021. "The implications of globalisation for the ECB monetary policy strategy," Occasional Paper Series 263, European Central Bank.
    6. Hadrien Camatte & Guillaume Daudin & Violaine Faubert & Antoine Lalliard & Christine Rifflart, 2021. "Global value chains and the transmission of exchange rate shocks to consumer prices," Working Papers hal-03374355, HAL.
    7. Elhoussaine Wahyana & Eduardo Amaral Haddad, 2024. "From Global to Local: Downscaling TiVA Indicators for Morocco Using an Interregional Input-Output Model," Research papers & Policy papers on Economic Trends and Policies 2427, Policy Center for the New South.
    8. repec:ire:issued:v:26:n:03:2023:p:342-391 is not listed on IDEAS
    9. Khalil, Makram, 2020. "Global oil prices and the macroeconomy: The role of tradeable manufacturing versus nontradeable services," Discussion Papers 60/2020, Deutsche Bundesbank.
    10. Beirne, John & Renzhi, Nuobu & Volz, Ulrich, 2021. "Persistent current account imbalances: Are they good or bad for regional and global growth?," Journal of International Money and Finance, Elsevier, vol. 115(C).
    11. Georgiadis, Georgios & Müller, Gernot J. & Schumann, Ben, 2024. "Global risk and the dollar," Journal of Monetary Economics, Elsevier, vol. 144(C).
    12. de Walque, Gregory & Lejeune, Thomas & Rannenberg, Ansgar & Wouters, Raf, 2023. "Low pass-through and international synchronization in general equilibrium: Reassessing vertical integration," Journal of International Economics, Elsevier, vol. 140(C).
    13. Hagemejer, Jan & Hałka, Aleksandra & Kotłowski, Jacek, 2022. "Global value chains and exchange rate pass-through—The role of non-linearities," International Review of Economics & Finance, Elsevier, vol. 82(C), pages 461-478.
    14. Filiz Mızrak & Serhat Yüksel, 2019. "Significant Determiners of Greek Debt Crisis: A Comparative Analysis with Probit and MARS Approaches," International Journal of Finance & Banking Studies, Center for the Strategic Studies in Business and Finance, vol. 8(3), pages 33-50, July.
    15. Ortega, Eva & Osbat, Chiara, 2020. "Exchange rate pass-through in the euro area and EU countries," Occasional Paper Series 241, European Central Bank.
    16. Kim, Kyungmin, 2021. "Production sharing and exchange rate pass-through," International Review of Economics & Finance, Elsevier, vol. 76(C), pages 817-835.
    17. Dr. Miriam Koomen & Dr. Laurence Wicht, 2020. "Demographics, pension systems, and the current account: an empirical assessment using the IMF current account model," Working Papers 2020-23, Swiss National Bank.
    18. Osbat, Chiara & Sun, Yiqiao & Wagner, Martin, 2021. "Sectoral exchange rate pass-through in the euro area," Working Paper Series 2634, European Central Bank.
    19. Miriam Koomen & Laurence Wicht, 2023. "Demographics and Current Account Imbalances: Accounting for the Full Age Distribution," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 71(3), pages 719-758, September.

    More about this item

    Keywords

    Exchange rate pass-through; global value chain participation;

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics

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