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Economics Working Papers, Department of Economics, CAU Kiel >
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http://hdl.handle.net/10419/44350
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| Title: | | Exchange rate pass-through: New evidence from German micro data  |
| Authors: | | Berner, Eike |
| Issue Date: | | 2011 |
| Series/Report no.: | | Economics working paper / Christian-Albrechts-Universität Kiel, Department of Economics 2011,01 |
| Abstract: | | This paper examines exchange rate pass-through into German import unit values over the last 20 years. I find incomplete pass-through to be the predominant characteristic for German imports with an average rate of 42% over three months. This result holds when considering monthly 8-digit data, the most disaggregated German import data available. Furthermore, I distinguish 16 German trading partners and estimate substantial cross-country differences in the pass-through to import unit values. Imports coming from European countries generally exhibit statistically zero pass-through. By contrast, non-European trading partners are characterized by statistically significant incomplete pass-through rates. I also study whether there are differences in the pass-through rates for appreciations and depreciations, as well as for small and large exchange rate shocks. Moreover, I test for a negative correlation between the goods' quality and its pass-through rate. |
| Subjects: | | exchange rate pass-through import prices Germany |
| JEL: | | F42 F31 F14 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Economics Working Papers, Department of Economics, CAU Kiel
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