Investment Prices and Exchange Rates: Some Basic Facts
记录了关于投资品和投资价格的四个基本事实，包括投资中不可贸易成分（建筑服务）的重要性、分销服务对投资与消费的不同作用、投资的进口含量更高，以及三次大贬值后汇率传递率在进口设备和建筑服务之间的差异。
This paper documents four basic facts about investment goods and investment prices. First, investment has a very significant nontradable component in the form of construction services. Second, distributions services (wholesaling, retailing, and transportation) are much less important for investment than for consumption. Third, the import content of investment is much larger than that of consumption. Finally, in the aftermath of three large devaluations, the rate of exchange rate pass-through is, perhaps not surprisingly, highest for imported equipment and lowest for construction services. J.E.L. Classification Numbers: F41.