Industry Structure and Exchange Rate Pass-Through

Byron Scott Gangnes ()

No 199311, Working Papers from University of Hawaii at Manoa, Department of Economics

Abstract: Imperfect competition models of international trade can explain differences in rates of exchange rate "pass-through" as the consequence of differences in industry structure. I evaluate such relationships for a sample of U.S. industries by regressing estimated pass-through coefficients on a number of industry characteristics including market concentration, demand substitutability, import penetration, and a measure of nontariff barriers. I find only weak evidence that industry characteristics influence pass-through behavior, with most of the variation in pass-through coefficients remaining unexplained.

Date: 1993

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