Pricing-to-Market in Swedish Exports
Annika Alexius () and
Anders Vredin ()
No 146, SSE/EFI Working Paper Series in Economics and Finance from Stockholm School of Economics
In this paper fluctuations in prices of Swedish exports to five countries are investigated in order to test whether there are systematic differences between prices to different markets and whether relative export prices are systematically affected by macroeconomic conditions in destination countries. Simple correlations suggest that relative export prices are related to real exchange rates, but also to nominal exchange rates. Formal tests, based on an error-correction model, indicate that the deviations from no pricing-to-market and neutrality of money are quite common and persistent. Over a sample of 15 years, long run monetary neutrality is rejected in almost half of the cases. In most cases, the degree of pricing-to-market is also affected by aggregate demand (unemployment) in export markets.
Keywords: export prices; exchange rates; pricing-to-market; neutrality of money; exchange-rate pass-through (search for similar items in EconPapers)
JEL-codes: F14 F31 F41 (search for similar items in EconPapers)
Pages: 40 pages
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Forthcoming in Scandinavian Journal of Economics.
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Journal Article: Pricing‐to‐market in Swedish Exports (1999)
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Persistent link: https://EconPapers.repec.org/RePEc:hhs:hastef:0146
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