THE IMPACT OF A LARGE DEPRECIATION ON THE COST OF LIVING OF RICH AND POOR CONSUMERS
利用零售商扫描数据，研究汇率大幅贬值如何影响消费者生活成本，发现进口商品边际成本上升但零售加价下降，且产品种类变化，富裕消费者受边际成本冲击更大但受益于加价降低和多样性增加。
Abstract Using retailer scanner data, we investigate how a sharp and abrupt depreciation of the exchange rate affects consumers' cost of living. We find that the marginal cost of imported goods increased, whereas their retail markups decreased compared to domestic products. There was also a surge in the entry and exit of both foreign and local product varieties post‐depreciation. Wealthier consumers, who spend more on imports, are hit harder by higher marginal costs but benefit from reduced markups and increased product diversity, unlike their less affluent counterparts.