Pricing to Market When the Exchange Rate Changes
Pricing to Market When the Exchange Rate Changes
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DOI：
10.3386/w1926
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发表时间：
1986-05
期刊：
影响因子：
--
通讯作者：
P. Krugman
中科院分区：
文献类型：
--
作者：
P. Krugman
人们普遍认为，美国的进口价格没有充分反映汇率的变动。本文首先调查外国供应商“按市场定价”的实际程度。它表明，按市场定价是一个真实的现象，但不是普遍现象;特别是，德国出口价格的证据表明，进口价格的粘性主要限于机械和运输设备。然后，本文考虑了一些可能的模式。虽然证据不足以区分这些模型，但似乎可能的是，一个完整的解释将涉及动态和不完全竞争。
It has been widely remarked that US import prices have not fully reflected movements in the exchange rate. This paper begins with an investigation of the actual extent of "pricing to market" by foreign suppliers. It shows that pricing to market is a real phenomenon, but not universal; in particular, evidence on German export prices suggests that stickiness of import prices is largely confined to machinery and transport equipment. The paper then considers a number of possible models. While the evidence is not sufficient to distinguish among thesemodels, it seems probable that a full explanation will involve both dynamics and imperfect competition.