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This paper explicitly takes into account the dynamic oligopolistic rivalry among source producers to evaluate the degree of exchange rate pass-through. Using recent time-series techniques for the case of imported automobiles in Switzerland, the results show that prices are strategic complements and that the degree of pass-through is lower in the long run than in the short run. We attribute this to the fact that, although some rivals match long-term price changes, others do not, inducing the producer who faces a change in exchange rate to absorb a greater proportion of the variation.

Foreign Exchange --- Macroeconomics --- Money and Monetary Policy --- Models of Trade with Imperfect Competition and Scale Economies --- Oligopoly and Other Imperfect Markets --- Empirical Studies of Trade --- Automobiles --- Other Transportation Equipment --- Related Parts and Equipment --- Monetary Systems --- Standards --- Regimes --- Government and the Monetary System --- Payment Systems --- Price Level --- Inflation --- Deflation --- Currency --- Foreign exchange --- Monetary economics --- Exchange rates --- Exchange rate pass-through --- Currencies --- Exchange rate adjustments --- Asset prices --- Money --- Prices --- Belgium

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Zonder onderwerpscode: economie

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Zonder onderwerpscode: economie

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Zonder onderwerpscode: economie