Market Shares, Financial Constraints and Pricing Behaviour in the Export Market
基于出口和出口价格的时间序列数据，估计了一个价格与数量调整的结构动态模型，发现市场份额调整缓慢且财务状况影响价格，价格不能充分反映成本和汇率的最新信息。
A structural dynamic model of price and quantity adjustment is estimated on time series data for exports and export prices. Two sources of dynamics are considered: customer markets and preset prices. As predicted by the customer market model, the market share adjusts slowly after a change in the relative price and financial conditions affect prices. Prices are found to be sticky in the sense that they do not reflect the most recent information about costs and exchange rates. A parsimoniously parameterized structural model explains about 90% of the variation in market share and the relative price.