Do German, Japanese, and U.S. export prices asymmetrically respond to exchange rate changes? Evidence from aggregate data

S. Mahdavi

Contemporary Economic Policy, 2000, vol. 18, issue 1, 70-81

Abstract: This article estimates the responses (elasticity coefficients) of the export price index to appreciation and depreciation of the nominal effective exchange rate using quarterly data (1973:1–1997:2) for Japan, Germany, and the United States. Cross‐country comparisons of the elasticity magnitudes based on the statistically superior of the estimated models indicate that Japanese exporters, in the aggregate, have the highest tendency to dampen the effects of exchange rate fluctuations on the foreign currency export prices in both directions by adjusting their home currency prices. Intracountry comparisons provide some evidence of an asymmetric adjustment in export prices in the cases of Japan and Germany.

Date: 2000
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