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27 records from EconBiz based on author Name
1. Price setting transactions and the role of denominating currency in FX markets
abstractThis report, commissioned by Sveriges Riksbank, examines the role of currency denomination in international trade transactions. It is divided in two parts. The first part consists of a survey of the price setting and payment practices of a large sample of Swedish exporting firms. The second part analyzes payments data from the Swedish settlement reports from 1999-2002. We examine whether invoicing patterns of Swedish and European companies changed following the creation of the EMU and how the currency denomination of exports differ from that of imports. Finally we consider the possibility that changes in invoicing patterns are correlated with changes in nominal exchange rates. Our main finding is that the same currency to a large extent is used for price setting, invoicing and payment for exports to third parties. We also find that the currency of the customer is the most used and that the euro is replacing the Swedish krona both in transactions with EMU-member countries but outside the EMU. Finally we find some evidence of a weak correlation between aggregate changes in invoicing patterns and changes in the trade weighted exchange rate over the period 1999-2002. -- Invoicing currency ; exchange rate pass-through ; price setting currency ; exchange rate exposure ; nominal rigidity
Friberg, Richard; Wilander, Fredrik;2007
Type: Arbeitspapier; Working Paper;
Availability:
Link 2. Demand and distance : evidence on cross-border shopping
abstractWhile many studies have documented deviations from the Law of One Price in international settings, evidence is scarce on the extent to which consumers take advantage of price differentials and engage in cross border shopping. We use data from 287 Swedish municipalities to estimate how responsive alcohol sales are to foreign prices, and relate the sensitivity to the location's distance to the border. Typical results suggest that the elasticity with respect to the foreign price is around 0.4 in the border region; moving 200 (400) kilometers inland reduces it to 0.2 (0.1). Given that cross country price differences for alcohol and other products are often caused by taxes, our evidence has implications for the debate on tax competition/harmonization. -- Law of one price ; tax competition ; tax harmonization ; cross border shopping ; European integration
Asplund, Marcus; Friberg, Richard; Wilander, Fredrik;2005
Type: Arbeitspapier; Working Paper; Graue Literatur; Non-commercial literature;
Availability: Link
Link 3. State dependent pricing and exchange rate pass-through
abstractWe analyze exchange rate pass-through and volatility of import prices in a dynamic framework where firms are subject to menu costs and decide on price adjustments in response to exchange rate innovations. The exchange rate pass-through and import price volatility then depend on the pricing convention in combination with functional forms of cost and demand functions. In particular, there is lower pass-through, less frequent price adjustments, lower price volatility, and slightly lower average prices when prices are set in the importer s currency than when prices are set in the exporter s currency. The degree of pass-through also depends on the magnitude of exchange rate innovations. Large exchange rate innovations raise pass-through if prices are set in the importer s currency but reduce pass-through if prices are set in the exporter s currency. Finally, the presence of inflation can generate a substantial asymmetry in price adjustments. This asymmetry could lead to pitfalls when empirically estimating pass-through, and we present some potential resolutions to this estimation problem.
Flodén, Martin; Wilander, Fredrik;2004
Type: Graue Literatur; Non-commercial literature; Arbeitspapier; Working Paper;
Availability: Link
4. When is a lower exchange rate pass-through associated with greater exchange rate exposure?
Flodén, Martin; Simbanegavi, Witness; Wilander, Fredrik;2008
Type: Aufsatz in Zeitschrift; Article in journal;
5. The currency denomination of exports : a questionnaire study
Friberg, Richard; Wilander, Fredrik;2008
Type: Aufsatz in Zeitschrift; Article in journal;
6. Price setting transactions and the role of denominating currency in FX markets
Friberg, Richard; Wilander, Fredrik;2007
Type: Working Paper;
Availability:
7. Price Setting Transactions and the Role of Denominating Currency in FX Markets
Friberg, Richard; Wilander, Fredrik;2007
Availability:
8. Price Setting Transactions and the Role of Denominating Currency in FX Markets
abstractThis report, commissioned by Sveriges Riksbank, examines the role of currency denomination in international trade transactions. It is divided in two parts. The first part consists of a survey of the price setting and payment practices of a large sample of Swedish exporting firms. The second part analyzes payments data from the Swedish settlement reports from 1999-2002. We examine whether invoicing patterns of Swedish and European companies changed following the creation of the EMU and how the currency denomination of exports differ from that of imports. Finally we consider the possibility that changes in invoicing patterns are correlated with changes in nominal exchange rates. Our main finding is that the same currency to a large extent is used for price setting, invoicing and payment for exports to third parties. We also find that the currency of the customer is the most used and that the euro is replacing the Swedish krona both in transactions with EMU-member countries but outside the EMU. Finally we find some evidence of a weak correlation between aggregate changes in invoicing patterns and changes in the trade weighted exchange rate over the period 1999-2002
Friberg, Richard; Wilander, Fredrik;2007
Availability: Link Link
Citations: 3 (based on OpenCitations)
9. Demand and distance : evidence on cross-border shopping
Asplund, Marcus; Friberg, Richard; Wilander, Fredrik;2007
Type: Aufsatz in Zeitschrift; Article in journal;
10. State dependent pricing, invoicing currency, and exchange rate pass-through
Flodén, Martin; Wilander, Fredrik;2006
Type: Aufsatz in Zeitschrift; Article in journal;