International Prices and Exchange Rates ∗ Ariel Burstein UCLA and NBER Gita Gopinath Harvard and NBER January 2013
نویسندگان
چکیده
We survey the recent empirical and theoretical developments in the literature on the relation between prices and exchange rates. After updating some of the major findings in the empirical literature we present a simple framework to interpret this evidence. We review theoretical models that generate insensitivity of prices to exchange rate changes through variable markups, both under flexible prices and nominal rigidities, first in partial equilibrium and then in general equilibrium.
منابع مشابه
The Importance of Nontradable Goods’ Prices in Cyclical Real Exchange Rate Fluctuations
Changes in the price of nontradable goods relative to tradable goods account for roughly 50 percent of the cyclical movements in real exchange rates. J.E.L. Classification: F31 ∗UCLA. †Northwestern University, NBER, and Federal Reserve of Chicago. ‡Northwestern University, NBER, and CEPR.
متن کاملInternational Prices and Exchange Rates
We survey the recent empirical and theoretical developments in the literature on the relation between prices and exchange rates. After updating some of the major findings in the empirical literature we present a simple framework to interpret this evidence. We review theoretical models that generate insensitivity of prices to exchange rate changes through variable markups, both under flexible pr...
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