Eylem Seç
Multi-destination Exporters, Market Penetration, and the Invoicing Currency of Trade
Başlık:
Multi-destination Exporters, Market Penetration, and the Invoicing Currency of Trade
Yazar:
Labbé Castillo, Felipe Andres, author.
ISBN:
9780438084148
Yazar Ek Girişi:
Fiziksel Tanımlama:
1 electronic resource (152 pages)
Genel Not:
Source: Dissertation Abstracts International, Volume: 79-11(E), Section: A.
Advisors: Brent Neiman Committee members: Michael Dinerstein; Julio Elias.
Özet:
This paper combines Chilean customs records with industrial data and provides new evidence underlying exporters' invoicing currency decisions. Firms start selling in vehicle-currency (neither the exporter nor the importer's currency) facing direct exchange rate shocks to their price measured in local-currency (importer's currency). As they grow in top destinations, they switch to local-currency pricing. Often large exporters sell in local-currency. However, they don't sell in local-currency everywhere. They only do so in the few top destinations accounting for large share (75%) of their export portfolio. To address this fact, I build a menu-cost model featuring: (i) vehicle- currency pricing, (ii) multi-destination exporters, and (iii) decreasing returns to scale. When the price charged in destination market d deviates from optimal, it produces a profit loss that rises with the speed at which marginal cost diverges from marginal revenue. Larger markets, relative to firm-level total exports, have a greater impact on quantity produced, and consequently on marginal cost. The more significant market destination d is, the more convex the profit loss in the price gap dimension. Therefore, direct shocks to the import price become increasingly less tolerable, providing incentives to switch to local-currency pricing.
Notlar:
School code: 0330
Konu Başlığı:
Tüzel Kişi Ek Girişi:
Mevcut:*
Yer Numarası | Demirbaş Numarası | Shelf Location | Lokasyon / Statüsü / İade Tarihi |
---|---|---|---|
XX(690836.1) | 690836-1001 | Proquest E-Tez Koleksiyonu | Arıyor... |
On Order
Liste seç
Bunu varsayılan liste yap.
Öğeler başarıyla eklendi
Öğeler eklenirken hata oldu. Lütfen tekrar deneyiniz.
:
Select An Item
Data usage warning: You will receive one text message for each title you selected.
Standard text messaging rates apply.