Exchange rate pass-through for strategic pricing and advertising
在新实证产业组织框架下构建模型，内生估计汇率变动对价格和广告的传递程度，揭示不完全传递的原因，并分析短期和长期中需求、成本与市场行为的作用。
This paper builds a model in the "new empirical industrial organization" framework [Bresnahan, T., 1989. Industries and Market Power. In: Schmalensee, R., Willig, R. (Eds.), Handbook of Industrial Organization. North Holland, Amsterdam.] to estimate exchange rate pass-through in price and advertising. Price-cost margins, market structure and firm conduct are estimated endogenously, allowing for precise estimation of the degree of, and reasons for, incomplete pass-through. I demonstrate that price and advertising pass-through are functions of demand, cost and market conduct in the short run. In the long run, the market conduct and cost technologies are, in turn, determined by the exchange rate movements. © 1997 Elsevier Science B.V.