Pricing to market at firm level |
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Authors: | Lourdes?Moreno?Martín Email author" target="_blank">Diego?Rodríguez?RodríguezEmail author |
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Institution: | (1) Fundación SEPI, Universidad Complutense de Madrid, C/Quintana, 2, 3a, 28008 Planta, Madrid |
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Abstract: | This paper analyzes the influence of exchange rate variations on prices in foreign and home markets using firm data. The theoretical
benchmark, based on the literature of pricing to market, also takes into account some hypotheses about the effects of demand
variations and market power on prices. The empirical analysis for the Spanish economy points out the positive impact of the
devaluations of the domestic currency on the relative evolution of prices, though smaller than obtained in previous evidence
using aggregated data. The results also suggest a procyclical behavior of prices, which is positively affected by the degree
of competition. JEL no. F12, L60, L13
This research has been partially funded by the projects SEC2003-00516, and SEC2000-0723 |
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Keywords: | Pricing to market market dynamism degree of competition |
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