Three essays on imperfect competition and exchange rate pass-through in the presence of multiple exchange rates

Abstract

Theoretical studies on exchange rate pass-through 9 1.3.3 Empirical studies on exchange rate pass-through 13 n. PRICE LEADERSHIP AND EXCHANGE RATE UNCERTAINTY: 19 THE IMPLICATIONS FOR EXCHANGE RATE PASS-THROUGH n.l Introduction 19 11.2 The model 21 11.3 Nash-equilibrium and price leadership 26 11.4 Simulation and sensitivity 11.5 Implications to short-run exchange rate pass-through 11.6 Conclusion in. EXCHANGE RATE PASS-THROUGH IN AN INTERNATIONAL DUOPOLY MODEL WITH BRAND LOYALTY: THE EFFECT OF RIVAL EXCHANGE RATE in. 1 Introduction in.2 Exchange rate pass-through and the analytical definition 49 iv in.3 Perfect foresight and exchange rate pass-through 54 in.4 Imperfect foresight and exchange rate pass-through 63 in.4.I Perfect capital mobility 68 in.4.2 Imperfect capital mobility 70 in.5 Conclusion 79 IV. EMPRICAL STUDY OF EXCHANGE RATE PASS-THROUGH: THE EFFECT OF RIVAL EXCHANGE RATES IV. 1 Introduction IV.2 The imperfect competition model IV.3 The econometric model IV.4 Data description IV.5 Estimation results and discussion 93 rv.6 Conclusion 100 V. GENERAL CONCLUSION 102

Markets and Markups: A New Empirical Framework and Evidence on Exporters from China

“…In what follows, we first show that, with endogenous shifts in trade patterns, taking price differences across destinations no longer correctly nets out marginal costs that are comparable. Second, building on Han (2017), we introduce an estimator that overcomes this problem-we dub it the "Trade Pattern Sequential Fixed Effects" estimator. Lastly, we show how our empirical analysis of the cross-market markup elasticity to the exchange rate can be extended to gain insight into the cross-market supply elasticity to the markup.…”