Exchange-rate pass-through in Japanese export pricing

Ayumi Kikuchi and Michael Sumner

Applied Economics, 2002, vol. 34, issue 3, 279-284

Abstract: Two recent aggregative studies claim to demonstrate that Japanese exporters absorb a proportion of exchange-rate changes in their profit margins; but the estimates of this proportion are dramatically different. This study accounts for the discrepancy, and shows that neither estimate is credible. These results identify incomplete pass-through, conditional on costs, as a transitory consequence of export pricing in currencies other than yen. The only long-run effect of the exchange rate on yen-dominated export prices operates through imported materials prices.

Date: 2002
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Working Paper: Exchange-rate pass-through in Japanese export pricing (1997)
Working Paper: Exchange-rate pass-through in Japanese export pricing (1997)
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DOI: 10.1080/00036840110048456

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