Exchange Rate Movements and Tradable Goods Prices in East Asia: An Analysis Based on Japanese Customs Data, 1988–1999

By Shinji Takagi and Yushi Yoshida
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By Shinji Takagi: International Monetary Fund

IMF Staff Papers, 2001, vol. 48, issue 2, 266-289

Abstract: This paper uses a dynamic panel data model to estimate the pass-through coefficients of 20 nine-digit industrial commodities that are traded between Japan and its East Asian and industrial country trading partners. By using the monthly series of unit export and import values obtained from the Japanese customs data for the period 1988–99, it shows that price pass-through is much larger for Japanese exports than for Japanese imports, suggesting that the yen prices of Japanese imports do not fall (rise) very much when the yen appreciates (depreciates), whereas the prices of Japanese exports rise (fall) considerably in the buyerís currency. With the notable exception of some imports from Malaysia, the degree of price pass-through was not qualitatively affected by the Asian currency crisis of 1997. Copyright 2001, International Monetary Fund

JEL-codes: F14 F32 (search for similar items in EconPapers)
Date: 2001
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