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Exchange Rate Movements and Tradable Goods Prices in East Asia; An Analysis Based on Japanese Customs Data, 1988-98

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  • Yushi Yoshida
  • Shinji Takagi

Abstract

The paper uses a dynamic panel data model to estimate the pass-through coefficients of 20 nine-digit industrial commodities that are traded between Japan and its East Asian trading partners to investigate the response of tradable goods prices to exchange rate movements. By using the monthly series of unit export and import values obtained from the Japanese customs data for the period 1988-98, it shows that price pass-through is much larger for exports from Japan than for imports to Japan.

Suggested Citation

  • Yushi Yoshida & Shinji Takagi, 1999. "Exchange Rate Movements and Tradable Goods Prices in East Asia; An Analysis Based on Japanese Customs Data, 1988-98," IMF Working Papers 99/31, International Monetary Fund.
  • Handle: RePEc:imf:imfwpa:99/31
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    Citations

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    Cited by:

    1. Michael B. Devereux & Charles Engel, 2003. "Monetary Policy in the Open Economy Revisited: Price Setting and Exchange-Rate Flexibility," Review of Economic Studies, Oxford University Press, vol. 70(4), pages 765-783.
    2. David C. Parsley, 2004. "Pricing in International Markets: a "Small-country" Benchmark," Review of International Economics, Wiley Blackwell, vol. 12(3), pages 509-524, August.
    3. Yushi Yoshida, 2005. "Foreign Direct Investment and Exchange Rate Pass-through: Export Pricing Behaviors of Japanese Multinational Corporations," Discussion Papers 20, Kyushu Sangyo University, Faculty of Economics.
    4. ITO Takatoshi & KOIBUCHI Satoshi & SATO Kiyotaka & SHIMIZU Junko, 2010. "Determinants of Currency Invoicing in Japanese Exports: A firm-level analysis," Discussion papers 10034, Research Institute of Economy, Trade and Industry (RIETI).
    5. Kiyotaka Sato & Junko Shimizu & Nagendra Shrestha & Zhaoyong Zhang, 2012. "New Estimates of the Equilibrium Exchange Rate: The Case for the Chinese Renminbi," The World Economy, Wiley Blackwell, vol. 35(4), pages 419-443, April.
    6. 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.
    7. Landon, Stuart & Smith, Constance E., 2006. "Exchange rates and investment good prices: A cross-industry comparison," Journal of International Money and Finance, Elsevier, vol. 25(2), pages 237-256, March.
    8. Guillaume Gaulier & Amina Lahrèche-Révil & Isabelle Méjean, 2008. "Exchange-rate pass-through at the product level," Canadian Journal of Economics, Canadian Economics Association, vol. 41(2), pages 425-449, May.
    9. Takatoshi Ito & Satoshi Koibuchi & Kiyotaka Sato & Junko Shimizu, 2010. "Why has the yen failed to become a dominant invoicing currency in Asia? A firm-level analysis of Japanese Exporters' invoicing behavior," NBER Working Papers 16231, National Bureau of Economic Research, Inc.
    10. Hernán Rincón & Édgar Caicedo & Norberto Rodríguez, 2007. "Exchange Rate Pass-Through Effects:A Disaggregate Analysis Of Colombianimports Of Manufactured Goods," ENSAYOS SOBRE POLÍTICA ECONÓMICA, BANCO DE LA REPÚBLICA - ESPE, vol. 25(54), pages 90-121, June.
    11. Yushi Yoshida, 2001. "Foreign Direct Investment and Exchange Rate Pass-through: Access to Foreign Markets," Discussion Papers 8, Kyushu Sangyo University, Faculty of Economics.
    12. repec:ebl:ecbull:v:6:y:2003:i:8:p:1-13 is not listed on IDEAS
    13. Devereux, Michael B & Engel, Charles M, 2000. "Monetary Policy In The Open Economy Revisited: Price Setting Rules And Exchange Rate Flexibility," CEPR Discussion Papers 2454, C.E.P.R. Discussion Papers.

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