Markup adjustment and exchange rate fluctuations: evidence from panel data on automobile exports

Article Abstract:

Price differentials in destination markets are driven by exchange rate movements and can persist for a number of years. This was revealed by an examination of the importance of markup adjustment relative to exchange rate movements across destination markets, using data on automobile export prices from the US, Germany and Japan. Automobiles from Japan exhibited a high degree of markup adjustment, while no such evidence was noted among US automobile exporters. German exports, on the other hand, showed weak evidence for such a trend.

Motor vehicles and car bodies, Automobiles, Automobile Manufacturing, Research, Pricing, Automobile industry, Markup

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Pricing exports: a cross-country study

Article Abstract:

An analysis of the relationship between exchange rates and export prices is presented. The study focuses on long-term steady state conditions and short-term dynamics by applying cointegration and error correction analysis. It is shown that the exchange rate has effects on export prices which are smaller than previously measured by earlier research. The results invalidate the theory of open countries having greater coefficients of pass-through.

Exports

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Further evidence on exchange rate expectations

Article Abstract:

An analysis of data on exchange rate expectations is presented. The analysis focuses on variations between EMS (European Monetary System) and dollar exchange rates. The study follows earlier research which observe irrational rate forecasts and non-optimal information use. It is shown that EMS exchange rate forecasts are guided by long-term fundamentals despite the presence of extrapolative and adaaptive variables for non-EMS systems.

Analysis, Forecasts and trends, European Monetary System, Foreign exchange market

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