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How important is the currency denomination of exports in open-economy models?

Author

Listed:
  • Michael Dotsey
  • Margarida Duarte

Abstract

The authors show that standard alternative assumptions about the currency in which firms price export goods are virtually inconsequential for the properties of aggregate variables, other than the terms of trade, in a quantitative open-economy model. This result is in contrast to a large literature that emphasizes the importance of the currency denomination of exports for the properties of open-economy models.

Suggested Citation

  • Michael Dotsey & Margarida Duarte, 2009. "How important is the currency denomination of exports in open-economy models?," Working Papers 09-32, Federal Reserve Bank of Philadelphia.
    • Handle: RePEc:fip:fedpwp:09-32
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    File URL: https://www.philadelphiafed.org/-/media/frbp/assets/working-papers/2009/wp09-32.pdf
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    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. Currency denomination does not matter for exports
      by Economic Logician in Economic Logic on 2010-01-27 21:57:00

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    Cited by:

    1. Kang, Hyunju, 2015. "Currency invoicing and state-dependent pricing," Journal of Macroeconomics, Elsevier, vol. 44(C), pages 50-59.
    2. Michael Dotsey & Margarida Duarte, 2017. "How Important is the Currency Denomination of Exports in Open Economy Models?," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 23, pages 1-18, January.
    3. Aydan Dogan, 2014. "Euro- US Real Exchange Rate Dynamics: How Far Can We Push Equilibrium Models?," Studies in Economics 1409, School of Economics, University of Kent.

    More about this item

    Keywords

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    JEL classification:

    • F3 - International Economics - - International Finance
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics

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