Website Search
Find information on spaces, staff, and services.
Find information on spaces, staff, and services.
| LEADER | 02620cam a2200397Ia 4500 | |
| 001 | 9975458953602122 | |
| 005 | 20161103090556.0 | |
| 007 | cr ||||||||||| | |
| 008 | 071228t20072007maua b 000 0 eng d | |
| 035 | $a(OCoLC)ocn185059946 | |
| 035 | $a7545895 | |
| 035 | $a(WU)7545895-uwmadisondb | |
| 035 | $a(EXLNZ-01UWI_NETWORK)9910047358002121 | |
| 040 | $aIUL$beng$cIUL$dGZM | |
| 043 | $aa-cc---$an-us--- | |
| 049 | $aGZMA | |
| 090 | $aHB1$b.W6 no.13620 | |
| 100 | 1_ | $aBergin, Paul R. |
| 245 | 10 | $aPass-through of exchange rates and competition between floaters and fixers /$cPaul R. Bergin, Robert C. Feenstra. |
| 264 | _1 | $aCambridge, Mass. :$bNational Bureau of Economic Research,$c[2007] |
| 264 | _4 | $c©2007 |
| 300 | $a45 pages :$billustrations ;$c22 cm. | |
| 336 | $atext$btxt$2rdacontent | |
| 337 | $aunmediated$bn$2rdamedia | |
| 338 | $avolume$bnc$2rdacarrier | |
| 490 | 1_ | $aNBER working paper series ;$vno. 13620 |
| 500 | $a"November 2007" | |
| 504 | $aIncludes bibliographical references (pages 41-42). | |
| 520 | $aThis paper studies how a rise in China's share of U.S. imports could lower pass-through of exchange rates to U.S. import prices. We develop a theoretical model with variable markups showing that the presence of exports from a country with a fixed exchange rate could alter the competitive environment in the U.S. market. In particular, this encourages exporters from other countries to lower markups in response to a U.S. depreciation, thereby moderating the pass-through to import prices. Free entry is found to further moderate the pass-through, in that a U.S. depreciation encourages entry of exporters whose costs are shielded by the fixed exchange rate, which further intensifies the competitive pressure on other exporters. The model predicts that certain conditions are necessary to facilitate this 'China explanation' for falling pass-through, including a 'North America bias' in U.S. preferences. The model also produces a log-linear structural equation for pass-through regressions indicating how to include the China share. Panel regressions over 1993₆1999 support the prediction that a high China share in imports lowers pass-through to U.S. import prices. | |
| 530 | $aAlso available from the NBER World Wide Web site (www.nber.org). | |
| 650 | _0 | $aForeign exchange rates$zChina. |
| 650 | _0 | $aImports$xPrices$zUnited States$xEconometric models. |
| 700 | 1_ | $aFeenstra, Robert C. |
| 710 | 2_ | $aNational Bureau of Economic Research. |
| 830 | _0 | $aWorking paper series (National Bureau of Economic Research) ;$vno. 13620. |
| 856 | 41 | $uhttp://www.nber.org/papers/w13620 |
| 997 | $aMARCIVE | |
| LEADER | 03620cam a2200517 a 4500 | |
| 001 | 991023113111702122 | |
| 005 | 20220303213021.0 | |
| 006 | m o d | |
| 007 | cr un||||||||| | |
| 008 | 071128s2007 mau ob 000 0 eng d | |
| 019 | $a894934356$a1243084072 | |
| 035 | $a(OCoLC)182559643$z(OCoLC)894934356$z(OCoLC)1243084072 | |
| 035 | $a(OCoLC)ocn182559643 | |
| 035 | $a(EXLNZ-01UWI_NETWORK)9913452535802121 | |
| 040 | $aOUN$beng$epn$cOUN$dDLC$dOCLCQ$dOCLCF$dOCLCO$dOCLCQ$dOCLCE$dOCLCQ$dOCLCO$dOCLCQ | |
| 042 | $adlr | |
| 043 | $aa-cc---$an-us--- | |
| 049 | $aGZMA | |
| 050 | 14 | $aHB1 |
| 050 | _4 | $aH11$b.N2434x no.13620 |
| 100 | 1_ | $aBergin, Paul R. |
| 245 | 10 | $aPass-through of exchange rates and competition between floaters and fixers /$cPaul R. Bergin, Robert C. Feenstra. |
| 264 | _1 | $aCambridge, Mass. :$bNational Bureau of Economic Research,$c2007. |
| 300 | $a1 online resource (1 volume) | |
| 336 | $atext$btxt$2rdacontent | |
| 337 | $acomputer$bc$2rdamedia | |
| 338 | $aonline resource$bcr$2rdacarrier | |
| 347 | $adata file$2rda | |
| 490 | 1_ | $aNBER working paper series ;$vno. 13620 |
| 504 | $aIncludes bibliographical references. | |
| 520 | $aThis paper studies how a rise in China's share of U.S. imports could lower pass-through of exchange rates to U.S. import prices. We develop a theoretical model with variable markups showing that the presence of exports from a country with a fixed exchange rate could alter the competitive environment in the U.S. market. In particular, this encourages exporters from other countries to lower markups in response to a U.S. depreciation, thereby moderating the pass-through to import prices. Free entry is found to further moderate the pass-through, in that a U.S. depreciation encourages entry of exporters whose costs are shielded by the fixed exchange rate, which further intensifies the competitive pressure on other exporters. The model predicts that certain conditions are necessary to facilitate this 'China explanation' for falling pass-through, including a 'North America bias' in U.S. preferences. The model also produces a log-linear structural equation for pass-through regressions indicating how to include the China share. Panel regressions over 1993₆1999 support the prediction that a high China share in imports lowers pass-through to U.S. import prices. | |
| 588 | 0_ | $aPrint version record. |
| 533 | $aElectronic reproduction.$b[Place of publication not identified] :$cHathiTrust Digital Library,$d2011.$5MiAaHDL | |
| 538 | $aMaster and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002.$uhttp://purl.oclc.org/DLF/benchrepro0212$5MiAaHDL | |
| 583 | 1_ | $adigitized$c2011$hHathiTrust Digital Library$lcommitted to preserve$2pda$5MiAaHDL |
| 650 | _0 | $aForeign exchange rates$zChina. |
| 650 | _0 | $aImports$xPrices$zUnited States$xEconometric models. |
| 650 | _7 | $aForeign exchange rates.$2fast$0(OCoLC)fst00931816 |
| 650 | _7 | $aImports$xPrices$xEconometric models.$2fast$0(OCoLC)fst00968215 |
| 651 | _7 | $aChina.$2fast$0(OCoLC)fst01206073 |
| 651 | _7 | $aUnited States.$2fast$0(OCoLC)fst01204155 |
| 700 | 1_ | $aFeenstra, Robert C. |
| 710 | 2_ | $aNational Bureau of Economic Research. |
| 776 | 08 | $iPrint version:$aBergin, Paul R.$tPass-through of exchange rates and competition between floaters and fixers.$dCambridge, Mass. : National Bureau of Economic Research, 2007$w(OCoLC)185059946 |
| 830 | _0 | $aWorking paper series (National Bureau of Economic Research) ;$vno. 13620. |
| 856 | 40 | $uhttps://www.nber.org/papers/w13620 |