Is export price adjustment asymmetric?: evaluating the market share and marketing bottlenecks hypotheses
检验出口价格对汇率波动的调整是否不对称，发现德国和日本七位数行业出口数据很少拒绝价格对称响应的假设。
Export price adjustment is asymmetric with respect to currency fluctuations in at least two circumstances. If firms face capacity constraints in distribution networks or quantitative trade restrictions, then pricing-to-market may be greater during depreciations of the exporter's currency. If firms attempt to build market share subject to the threat of trade restrictions, then pricing-to-market may be greater during appreciations of the exporter's currency. This paper tests for asymmetries using panel data on German and Japanese 7-digit industry exports. The data seldom reject the hypothesis of a symmetric response of prices to exchange rates.