Title of article
Exchange ratepass-throughandcreditconstraints
Author/Authors
Georg Strasser، نويسنده ,
Issue Information
روزنامه با شماره پیاپی سال 2013
Pages
14
From page
25
To page
38
Abstract
The macroeconomicevidenceoftheshort-termimpactofexchangeratesonexportsand
pricesisnotoriouslyweak.Thispaperexaminesthemicrofoundationsofthisdisconnect.I
study theresponseoffirms’exportandpricesettingdecisionstofluctuationsinexchange
rates andcreditconditionsusingfirm-levelsurveydata.Financiallyconstrainedfirmspass
throughexchangeratechangestopricesatalmosttwicetherateofunconstrainedfirms.
Similarly,theirexportvolumesareabouttwiceassensitivetoexchangeratefluctuations.
The effectofborrowingconstraintsisparticularly strongduringtherecentfinancialcrisis
Journal title
Journal of Monetary Economics
Serial Year
2013
Journal title
Journal of Monetary Economics
Record number
846568
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