Investment Prices and Exchange Rates: Some Basic Facts

Ariel Burstein, Joao C. Neves and Sergio Rebelo ()

No 10238, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: This paper documents four basic facts about investment goods and investment prices. First, investment has a very significant nontradable component in the form of construction services. Second, distributions services (wholesaling, retailing, and transportation) are much less important for investment than for consumption. Third, the import content of investment is much larger than that of consumption. Finally, in the aftermath of three large devaluations, the rate of exchange rate pass-through is, perhaps not surprisingly, highest for imported equipment and lowest for construction services.

JEL-codes: F41 (search for similar items in EconPapers)
Date: 2004-01
New Economics Papers: this item is included in nep-ifn and nep-lam
Note: EFG IFM
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (69)

Published as Ariel T. Burstein & João C. Neves & Sergio Rebelo, 2004. "Investment Prices and Exchange Rates: Some Basic Facts," Journal of the European Economic Association, MIT Press, vol. 2(2-3), pages 302-309, 04/05.

Downloads: (external link)
http://www.nber.org/papers/w10238.pdf (application/pdf)

Related works:
Working Paper: Investment Prices and Exchange Rates: Some Basic Facts (2004)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:nbr:nberwo:10238

Ordering information: This working paper can be ordered from
http://www.nber.org/papers/w10238

Access Statistics for this paper

More papers in NBER Working Papers from National Bureau of Economic Research, Inc National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.. Contact information at EDIRC.
Bibliographic data for series maintained by ().