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題 名 | 市場取價不對稱性與匯率行為=Asymmetric Pricing-to-Market and Exchange Rate Behavior |
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作 者 | 賴宗福; | 書刊名 | 多國籍企業管理評論 |
卷 期 | 5:1 2011.03[民100.03] |
頁 次 | 頁72-90 |
分類號 | 563.2 |
關鍵詞 | 市場取價; 匯率動態; 匯率轉嫁; 新開放經濟總體經濟學; Asymmetric pricing-to-market; Exchange rate dynamics; Exchange rate pass-through; NOEM; |
語 文 | 中文(Chinese) |
中文摘要 | 本文以「新開放經濟總體經濟模型」作為分析基礎,修正Betts and Devereux (1996)對稱性市場取價之設定,探究不對稱市場取價行為對匯率轉嫁及其動態調整過程的影響,試圖補充既有文獻之不足。本研究結果顯示,當存在不對稱取價行為時,國家規模在匯率行為中將扮演相當重要的角色。在匯率轉嫁議題中,若外(本)國廠商採取市場取價的比率愈高或外(本)國規模愈小,則匯率對本(外)國物價的轉嫁也愈小;於匯率動態的探討上,匯率會出現過度調整的現象,且當兩國廠商間的定價行為愈傾向本(外)幣本位制時,則匯率波動的幅度將會隨著本國規模的擴大而下降(上升)。 |
英文摘要 | In order to compensate the lack of existing literature, we follow a modified version of Betts and Devereux (1996) model to examine how asymmetric pricing-to-market behavior affect exchange rate pass-through and it's adjustment dynamics within New Open economy Macroeconomics framework. We find that the country size will play an important role in the process of exchange rate adjustment if asymmetric pricing-to-market behavior exists. On the issue of exchange rate pass-through, our results show that the higher degree of pricing-to-market behavior and smaller size of foreign (home) country lead to a low exchange rate pass-through to domestic (home) price. For the topic study of exchange rate dynamics, we also get that exchange rate can generate overshooting behavior, and bigger size of home country will decrease (increase) exchange rate volatility in a word with a home (foreign) currency standard. |
本系統中英文摘要資訊取自各篇刊載內容。