Exchange Rates And Prices: The Case Of United States Imports (routledge Library Editions: Exchange Rate Economics)

Originally published in 1996. This study looks at the impact of exchange rate fluctuation on the pricing practices of foreign industries that import into the United States market. It presents several studies of the pass-through behaviour of over 100 disaggregated commodity groups with bi-lateral exchange rates. The book presents analysis of specific competitors and their individual pricing responses to exchange rate changes, adding significantly to pricing theory as well as being useful for marketers in predicting business responses. Cover -- ROUTLEDGE LIBRARY EDITIONS:EXCHANGE RATE ECONOMICS -- Half title -- Copyright1 -- Title -- Copyright2 -- Dedication -- Contents -- List of Tables -- List of Figures -- List of Abbreviations -- Exchange Rates and Prices -- CHAPTER I INTRODUCTION -- Neo-Classical Theory and the Price -Exchange Rate Link -- From Theory to Practice -- Public Policy Ramifications -- Pass-Through and Empirical Research -- Recent Theoretical Developments -- The Basic Purpose of the Present Study -- Research Questions -- CHAPTER II LITERATURE REVIEW -- Currency Regimes -- Theoretical Foundations: Purchasing Power Parity -- A Conceptual View of Incomplete Pass-Through -- Empirical Research -- Summary -- CHAPTER III RESEARCH ISSUES AND QUESTIONS -- Effects of Exploratory Nature of the Research -- Policy and Theory Issues at the Macro-Level -- Policy Issues at the Firm Level -- Pass-Through, PTM, and the Need for Further Research -- Key Research Questions -- CHAPTER IV RESEARCH METHOD: SAMPLE DESIGN -- Time Frame of the Sample -- Data on Import Prices -- Desirable Features of the Sample of Import Prices -- Criteria for Import Price Sample Selection -- Data on Bi-lateral Exchange Rates -- Countries Included in the Sample -- Scope of Final Sample -- CHAPTER V RESEARCH METHOD: PASS-THROUGH ESTIMATION -- The Basic Model -- Expression of the Relationship in Multiplicative Form -- The Model to be Estimated -- Other Assumptions of the Model -- Exclusion of Other Possible Explanatory Variables -- CHAPTER VI RESEARCH METHOD: RESEARCH DESIGN -- Sub-Periods of Appreciation and Depreciation -- Other Measures of Pass-Through -- CHAPTER VII DATA ANALYSIS AND RESULTS -- Preliminary Analysis Tools -- Regression-Based Pass-Through Measurement Model -- Results -- Other Possible Limitations of the Measurement Process -- Supplemental Analyses Originally published in 1996. This study looks at the impact of exchange rate fluctuation on the pricing practices of foreign industries that import into the United States market, presenting analysis of the pass-through behaviour of disaggregated commodity groups.