지원사업
학술연구/단체지원/교육 등 연구자 활동을 지속하도록 DBpia가 지원하고 있어요.
커뮤니티
연구자들이 자신의 연구와 전문성을 널리 알리고, 새로운 협력의 기회를 만들 수 있는 네트워킹 공간이에요.
초록· 키워드
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This study empirically examines the nature of the exchange rate pass-through (ERPT) into export and import prices in the case of a small open economy, such as Korea, by using the bounds testing approach. The estimation results obtained from the unrestricted error correction model (UECM) using data on Korea and its major trading partners, Japan and the United States (U.S.), provide new evidence that statistical significances in the degree of pass-through vary with respect to industries. The study also reveals heterogeneity across sectors in their reaction to exchange rate as well as its asymmetry and persistence. The evidence indicates that in the raw materials sector, ERPT differs between the short- and the long-run effects, suggesting that the incomplete ERPT seems persistent within the sector. The evidence for agriculture supports the hypothesis of asymmetric response to ERPT in the long run. This result supports previous findings, and also provides more insight into the exchange rate theory and trade policy.
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참고문헌 (20)
참고문헌 신청
Baldwin, Robert / 1988 / Hysteresis in Import Prices : The Beachhead effect / The American Economic Review 78 (4) : 773 ~ 785
Betts, Caroline / 2000 / Exchange rate dynamics in a model of pricing-to-market / Journal of International Economics 5 : 215 ~ 244
Brissimis, Sophocles / 2007 / Market power and exchange rate pass-through / International Review of Economics and Finance 16 : 202 ~ 222
Bussiere, Matthieu / 2007 / Exchange rate pass-through to trade prices: the role of non-linearities and asymmetries
Campa, Jose / 2005 / Exchange rate pass-through into import prices / The review of Economics and Statistics 87 (4) : 679 ~ 690
Betts, Caroline / 2000 / Exchange rate dynamics in a model of pricing-to-market / Journal of International Economics 5 : 215 ~ 244
Brissimis, Sophocles / 2007 / Market power and exchange rate pass-through / International Review of Economics and Finance 16 : 202 ~ 222
Bussiere, Matthieu / 2007 / Exchange rate pass-through to trade prices: the role of non-linearities and asymmetries
Campa, Jose / 2005 / Exchange rate pass-through into import prices / The review of Economics and Statistics 87 (4) : 679 ~ 690
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