Title of article :
Exchange ratepass-throughandcreditconstraints
Author/Authors :
Georg Strasser، نويسنده ,
Issue Information :
روزنامه با شماره پیاپی سال 2013
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
Journal title :
Journal of Monetary Economics
