Endogenous comparative advantage, gains from trade and symmetry-breaking
In: Journal of international economics, Band 109, S. 102-115
ISSN: 0022-1996
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In: Journal of international economics, Band 109, S. 102-115
ISSN: 0022-1996
In: UNSW Australian School of Business Research Paper No. 2014-19
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In: UNSW Australian School of Business Research Paper No. 2014-18
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In: UNSW Business School Research Paper No. 2017-13
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In: UNSW Business School Research Paper No. 2015-23
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In: Journal of international economics, Band 109, S. 138-152
ISSN: 0022-1996
In: UNSW Economics Working Paper 2023-10
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In: UNSW Business School Research Paper No. 2017-07
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In: The Canadian journal of economics: the journal of the Canadian Economics Association = Revue canadienne d'économique, Band 50, Heft 4, S. 1130-1160
ISSN: 1540-5982
AbstractIn this paper we investigate how firms adjust markups across products in response to fluctuations in the real exchange rate. We estimate markups at the market–product–plant level using detailed panel production and cost data from Mexican manufacturing between 1994 and 2007. Exploiting variation in the real exchange rate in the aftermath of the peso crisis in December 1994, we provide robust empirical evidence that plants increase their markups and producer prices in response to a real depreciation and that this increase is greater for products with higher productivity. Thus, we provide direct evidence for the theoretical mechanism of variable markup response behind incomplete and heterogeneous exchange rate pass‐through on producer prices. Our empirical methodology allows us to decompose the producer price response to exchange rate shocks into a markup and a marginal cost component using our markup estimates. Using these estimates, we establish that marginal cost at the product–plant level increases more in response to real exchange rate depreciation if the plant has higher share of imported inputs.
In: Canadian Journal of Economics/Revue canadienne d'économique, Band 50, Heft 4, S. 1130-1160
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In: Journal of economic dynamics & control, Band 122, S. 104031
ISSN: 0165-1889
In: Journal of Monetary Economics, Band 114, S. 71-89
In: UNSW Economics Working Paper 2017-17a
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