« Back to Results
Atlanta Marriott Marquis, International 5
American Economic Association
Economic Consequences of Dominant Currencies
Friday, Jan. 4, 2019 10:15 AM - 12:15 PM
- Chair: Gita Gopinath, Harvard University
Dollar Invoicing and the Heterogeneity of Exchange Rate Pass-Through
AbstractWe show empirically that the variation across country pairs in exchange rate pass-through and trade elasticity is meaningfully explained by the dollar's dominance as invoicing currency. We use a hierarchical Bayesian approach to directly and flexibly model pass-through heterogeneity conditional on the invoicing share. We estimate that the importer's country-level dollar invoicing share explains 15% of the overall variance across trading pairs in dollar exchange rate pass-through into bilateral prices.
Exports and Invoicing: Evidence from the 2015 Swiss CHF Appreciation
AbstractExplores the differential cross-sectional response of border prices and export values tied to currency of invoicing following the Swiss CHF appreciation in 2015.
Hyun Song Shin,
Bank for International Settlements
University of British Columbia
- F0 - General