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Exchange-rate pass-through in Japanese export pricing

Author

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  • Kikuchi, Ayumi
  • Sumner, Michael

Abstract

Two recent aggregative studies claim to demonstrate that Japanese exporters absorb a proportion of exchange-rate changes in their profit margins; but the estimates of this proportion are dramatically different. This study accounts for the discrepancy, and shows that neither estimate is credible. These results identify incomplete pass-through, conditional on costs, as a transitory consequence of export pricing in currencies other than yen. The only long-run effect of the exchange rate on yen-dominated export prices operates through imported materials prices.
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Kikuchi, Ayumi & Sumner, Michael, 1997. "Exchange-rate pass-through in Japanese export pricing," Working Paper Series 0697, Department of Economics, University of Sussex Business School.
    • Handle: RePEc:sus:susewp:0697
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    File URL: http://www.sussex.ac.uk/Units/economics/dp/pap6.pdf
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    Cited by:

    1. 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.
    2. Brissimis, Sophocles N. & Kosma, Theodora S., 2007. "Market power and exchange rate pass-through," International Review of Economics & Finance, Elsevier, vol. 16(2), pages 202-222.
    3. Sophocles N. Brissimis & Theodora S. Kosma, 2006. "Market Conduct, Price Interdependence and Exchange Rate Pass-Through," Working Papers 51, Bank of Greece.
    4. Michaelis, Jochen, 2006. "Optimal monetary policy in the presence of pricing-to-market," Journal of Macroeconomics, Elsevier, vol. 28(3), pages 564-584, September.
    5. Lian An & Jian Wang, 2012. "Exchange Rate Pass-Through: Evidence Based on Vector Autoregression with Sign Restrictions," Open Economies Review, Springer, vol. 23(2), pages 359-380, April.
    6. Roberto Basile & Sergio de Nardis & Alessandro Girardi, 2009. "Pricing to market of Italian exporting firms," Applied Economics, Taylor & Francis Journals, vol. 41(12), pages 1543-1562.
    7. Carlos Noton Norambuena, 2003. "The pass-through from depreciation to inflation: Chile 1986-2001," Estudios de Economia, University of Chile, Department of Economics, vol. 30(1 Year 20), pages 133-155, June.

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