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http://hdl.handle.net/10419/39441
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| Title: | | Pricing-to-market or hysteresis? An empirical investigation of German exports  |
| Authors: | | Penkova, Emilia |
| Issue Date: | | 2005 |
| Series/Report no.: | | Wirtschaftstheoretische Diskussionsbeiträge 05-03 |
| Abstract: | | The paper initiates a new area of research: both concepts of hysteresis and pricing-to-market are simultaneously investigated in relation to German exports into Belgium, France, Italy, UK, Spain and Sweden over the period 1975 to 1994 at 4-digit ISIC level. There is abundant empirical evidence that German exports price-to-market. Part of this observed limited exchange rate pass-through, however, might be due to hysteresis as well. A dynamic panel estimation is undertaken, a new concept 'pricing-to-market due to hysteresis in quantities' is introduced, and a method for capturing it is proposed. A test for measuring hysteresis in prices is also suggested. There is evidence that hysteresis and pricing-to-market deserve a better empirical modelling. |
| Subjects: | | international trade panel data |
| JEL: | | C23 F14 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Wirtschaftstheoretische Diskussionsbeiträge, Lst. f. VWL, TU Dortmund
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