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政大機構典藏 > 商學院 > 國際經營與貿易學系 > 期刊論文 > Item 140.119/77959

Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/77959

Title:	Exchange rate pass-through in deflation: The case of Taiwan
Authors:	Lin, Po-Chun;Wu, Chung-Shu 林柏君;吳中書
Contributors:	國貿系;經濟系
Keywords:	Exchange rate pass-through;Threshold autoregressive;Deflation
Date:	2012-04
Issue Date:	2015-08-24 15:00:23 (UTC+8)
Abstract:	This paper incorporates deflation in an analysis of the relationship between the exchange rate pass-through and inflation. Using a nonlinear model based on monthly data of Taiwan`s import prices from 1981 to 2008, we find that the degree of exchange rate pass-through is increasing in deflation. The increase becomes smaller when the price of oil is excluded. Evidence for pass-through increasing in deflation has not previously been found in the existing literature and presents a new understanding of the pricing behavior of firms. Poor profits in deflation cause firms to pass through most of the cost of exchange rate changes to their products to avoid exiting the market.
Relation:	International Review of Economics & Finance, 22(1), 101-111
Data Type:	article
DOI 連結:	http://dx.doi.org/10.1016/j.iref.2011.10.010
DOI:	10.1016/j.iref.2011.10.010
Appears in Collections:	[國際經營與貿易學系 ] 期刊論文

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