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Pricing to Market of German Exporters: Evidence from Panel Data

  • Martin Falk


  • Rahel Falk

This paper investigates price discrimination of German exporters across different foreign markets. We examine the degree of pass-through of exchange rate fluctuations in the pricing of 70 export items. The model is estimated using panel data on export unit values. Parameter estimation relies on GMM first difference, fixed effects, LAD, OLS first difference, and the random coefficients model. The main results for 70 manufactured goods and 15 destination countries between 1990-1994 are : The degree of pricing to market differs among destinations and products. Highest pricing to market is observed for U.S., Japan, Italy and Spain. Pricing to market is more prevalent in exports of chemicals and fertilisers than in machinery products.

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Article provided by Springer in its journal Empirica.

Volume (Year): 27 (2000)
Issue (Month): 1 (March)
Pages: 21-46

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Handle: RePEc:kap:empiri:v:27:y:2000:i:1:p:21-46
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  1. Feenstra, R.C. & Gagnon, J.E. & Knetter, M.M., 1993. "Market Share and Exchange Rate Pass-Through in World Automobile Trade," Papers 93-14, California Davis - Institute of Governmental Affairs.
  2. Knetter, Michael M., 1997. "Why are retail prices in Japan so high? Evidence from German export prices," International Journal of Industrial Organization, Elsevier, vol. 15(5), pages 549-572, August.
  3. William H. Branson & Richard C. Marston, 1989. "Price and Output Adjustment in Japanese Manufacturing," NBER Working Papers 2878, National Bureau of Economic Research, Inc.
  4. Sven W. Arndt & J. David Richardson, 1987. "Real-Financial Linkages Among Open Economies," NBER Working Papers 2230, National Bureau of Economic Research, Inc.
  5. Dornbusch, Rudiger, 1987. "Exchange Rates and Prices," American Economic Review, American Economic Association, vol. 77(1), pages 93-106, March.
  6. Pinelopi K. Goldberg & Michael M. Knetter, 1995. "Measuring the Intensity of Competition in Export Markets," NBER Working Papers 5226, National Bureau of Economic Research, Inc.
  7. Joseph E. Gagnon & Michael M. Knetter, 1992. "Markup Adjustment and Exchange Rate Fluctuations: Evidence From Panel Data on Automobile Exports," NBER Working Papers 4123, National Bureau of Economic Research, Inc.
  8. Baldwin, Richard, 1988. "Hyteresis in Import Prices: The Beachhead Effect," American Economic Review, American Economic Association, vol. 78(4), pages 773-85, September.
  9. Pinelopi K. Goldberg & Michael M. Knetter, 1996. "Goods Prices and Exchange Rates: What Have We Learned?," NBER Working Papers 5862, National Bureau of Economic Research, Inc.
  10. Hsiao, C., 1992. "Random Coefficients Models," Papers 9212, Southern California - Department of Economics.
  11. Arellano, Manuel & Bond, Stephen, 1991. "Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations," Review of Economic Studies, Wiley Blackwell, vol. 58(2), pages 277-97, April.
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