Exporters' Heterogeneous Productivities, Liquidity Constraint, and the Dynamics of International Relative Prices
Project/Area Number |
24730170
|
Research Category |
Grant-in-Aid for Young Scientists (B)
|
Allocation Type | Multi-year Fund |
Research Field |
Economic theory
|
Research Institution | Sophia University |
Principal Investigator |
KOSAKA Michiru 上智大学, 国際教養学部, 准教授 (50612082)
|
Project Period (FY) |
2012-04-01 – 2016-03-31
|
Project Status |
Completed (Fiscal Year 2015)
|
Budget Amount *help |
¥2,210,000 (Direct Cost: ¥1,700,000、Indirect Cost: ¥510,000)
Fiscal Year 2014: ¥650,000 (Direct Cost: ¥500,000、Indirect Cost: ¥150,000)
Fiscal Year 2013: ¥1,170,000 (Direct Cost: ¥900,000、Indirect Cost: ¥270,000)
Fiscal Year 2012: ¥390,000 (Direct Cost: ¥300,000、Indirect Cost: ¥90,000)
|
Keywords | 国際相対価格 / 為替レート / 輸出企業 / 金融制約 / 流動性制約 |
Outline of Final Research Achievements |
This research project studies the effects of the financial constraints of heterogeneous exporting firms on their price-setting behaviors and sensitivities to exchange rates in order to understand the behaviors of international relative prices. Using a model that assumes endogenous markups, I find that the exchange rate pass-through is higher when firms face greater financial constraints. Using a dynamic stochastic general equilibrium (DSGE) model, I also further analyze how the level of integration of financial markets affects the transmissions of exogenous economic shocks.
|
Report
(5 results)
Research Products
(2 results)