Pricing‐to‐market in Swedish Exports
研究了瑞典对五个国家出口价格的波动，检验不同市场间价格差异及宏观经济条件对相对出口价格的影响，发现按市场定价和货币中性偏离普遍且持久。
Fluctuations in prices of Swedish exports to five countries are investigated in this paper. We test whether there are systematic differences between prices to different markets and whether relative export prices are affected by macroeconomic conditions in destination countries. The test results indicate that deviations from no pricing‐to‐market and neutrality of money are quite common and persistent. Over a sample of 15 years, long‐run monetary neutrality is rejected in almost half of the cases. In most cases, the degree of pricing‐to‐market is also affected by aggregate demand in export markets.