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Review of World Economics

, Volume 125, Issue 3, pp 588–618 | Cite as

The effects of exchange rate trends and volatility on export prices: Industry examples from Japan, Germany, and the United States

  • Catherine L. Mann
Articles

Keywords

Exchange Rate Real Exchange Rate Exchange Risk Export Price Nominal Exchange Rate 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

Zusammenfassung

Die Wirkungen von Trends und Schwankungen der Wechselkurse auf die Exportpreise: Beispiele aus der Industrie Japans, der Bundesrepublik und der Vereinigten Staaten. - Wie unterscheiden sich Trends und Schwankungen der Wechselkurse, denen sich die Exporteure der einzelnen LÄnder gegenübersehen, und wie beeinflussen sie deren Exportpreispolitik? Die Verfasserin untersucht Daten über die Transaktionspreise der Exporte von fünf stark disaggregierten Industrieprodukten, welche aus den USA, Japan und der Bundesrepublik ausgeführt wurden. Sie ermittelt, da\ die deutschen Unternehmen geringere TrendverÄnderungen und Schwankungen der Wechselkurse auf ihren ExportmÄrkten erfahren haben als die amerikanischen und japanischen Exporteure dieser Produkte. Indessen scheinen die deutschen Exporteure in ihrer Preispolitik besonders empfindlich auf TrendverÄnderungen und Schwankungen der Wechselkurse zu reagieren. Für die Preisgestaltung der US-Firmen sind weder der Trend noch die Schwankungen des Dollarkurses besonders wichtig. Die japanischen Firmen werden am meisten von den Schwankungen und den Trendbewegungen des Yen betroffen.

Résumé

Les effets des tendances et des fluctuations des taux de change sur les prix à l’exportation: des examples de l’industrie au Japon, dans la RFA et aux Etats-Unis. - De quelle manière diffèrent la tendance et la fluctuation des taux de change parmi les exportateurs de divers pays et de quelle faÇon influencent-elles les stratégies des prix à l’exportation? L’auteur analyse les données sur les prix de transaction pour des exportations des cinq produits industriels très desaggregés exportés des Etats-Unis, du Japon et de la RFA. Elle a trouvé que les exportateurs allemands ont appris sur leurs débouchés des mouvements de tendance et des fluctuations des taux de change qui sont moins accentués que ceux des exportateurs américains et japonais pour les mÊmes produits. Cependant les exportateurs allemands semblent réagir le plus sensiblement à ces deux facteurs. Ni le mouvement de tendance du dollar ni sa fluctuation ne sont très importants pour le comportement des entreprises américaines dans leur politique de prix. Les entreprises japonaises sont les plus influencées par la fluctuation et le mouvement de tendance du yen.

Resumen

Los efectos de tendencias en el movimiento de las tasas de cambio y la volatilidad sobre los precios de exportación: ejemplos de industrias del Japón, Alemania y los Estados Unidos. - ¿Cómo difieren las tendencias en el movimiento y la volatilidad de las tasas de cambio entre países exportadores y cómo afectan éstas a las estrategias de precio de exportación? La autora analiza estadísticas a nivel muy desagregado de los precios para transacciones de exportación de cinco productos industriales exportados por los Estados Unidos, el Japón y Alemania Occidental. Los resultados demuestran que los exportadores alemanes han experimentado movimientos de tendencia y una volatilidad de las tasas de cambio relativamente menores en sus mercados de destino que los exportadores estadounidenses y japoneses de estos productos. Los exportadores alemanes, empero, parecen ser más sensitivos frente a estos dos factores en el marco de sus estrategias de precios. Ni la tendencia del movimiento del dólar ni su volatilidad son importantes para la política de precios de las empresas estadounidenses. Las empresas japonesas resultan ser las mas afectadas por la volatilidad del yen y su tendencia de movimiento.

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Copyright information

© Institut für Weltwirtschaft an der Universität Kiel 1989

Authors and Affiliations

  • Catherine L. Mann

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