Replication data for: Currency Choice and Exchange Rate Pass-Through
Principal Investigator(s): View help for Principal Investigator(s) Gita Gopinath; Oleg Itskhoki; Roberto Rigobon
Version: View help for Version V1
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Project Citation:
Gopinath, Gita, Itskhoki, Oleg, and Rigobon, Roberto. Replication data for: Currency Choice and Exchange Rate Pass-Through. Nashville, TN: American Economic Association [publisher], 2010. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-11. https://doi.org/10.3886/E112327V1
Project Description
Summary:
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We show, using novel data on currency and prices for US imports, that even
conditional on a price change, there is a large difference in the exchange
rate pass-through of the average good priced in dollars (25 percent) versus
nondollars
(95 percent). We document this to be the case across countries and
within disaggregated sectors. This finding contradicts the assumption in an
important class of models that the currency of pricing is exogenous. We present
a model of endogenous currency choice in a dynamic price setting environment
and show that the predictions of the model are strongly supported by the data.
(JEL E31, F14, F31)
Scope of Project
JEL Classification:
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E31 Price Level; Inflation; Deflation
F14 Empirical Studies of Trade
F31 Foreign Exchange
E31 Price Level; Inflation; Deflation
F14 Empirical Studies of Trade
F31 Foreign Exchange
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