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Essays on exchange rates, prices, an...

Karnchanasai, Chatsurang Cathy.

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Essays on exchange rates, prices, and corporate behavior during the Asian currency crisis.

Record Type:	Electronic resources : Monograph/item
Title/Author:	Essays on exchange rates, prices, and corporate behavior during the Asian currency crisis./
Author:	Karnchanasai, Chatsurang Cathy.
Description:	73 p.
Notes:	Source: Dissertation Abstracts International, Volume: 64-09, Section: A, page: 3388.
Contained By:	Dissertation Abstracts International64-09A.
Subject:	Economics, General. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3103913

Essays on exchange rates, prices, and corporate behavior during the Asian currency crisis.
Karnchanasai, Chatsurang Cathy.

Essays on exchange rates, prices, and corporate behavior during the Asian currency crisis. - 73 p.

Source: Dissertation Abstracts International, Volume: 64-09, Section: A, page: 3388.

Thesis (Ph.D.)--University of Southern California, 2003.

The dissertation covers two categories on exchange rate behavior and prices. The first category involves the pass-through of exchange rate changes to import prices and the second category involve the divergent behavior of domestic and export prices and violations of the Law of One Price. It explores the behavior of exchange rates, prices, and industrial behavior during the Asian Currency Crisis using monthly data from U.S., Japan, Thailand, and Korea from January 1990 to December 2001. Data from eleven industrial price categories that include general wholesale prices, agriculture, manufacturing, petroleum, leather, textile, chemical, paper, rubber, transportation, and machinery and equipment are used.Subjects--Topical Terms:

1017424
Economics, General.

Essays on exchange rates, prices, and corporate behavior during the Asian currency crisis.
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035 $a (UnM)AAI3103913
035 $a AAI3103913
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100 1 $a Karnchanasai, Chatsurang Cathy. $3 1947367
245 1 0 $a Essays on exchange rates, prices, and corporate behavior during the Asian currency crisis.
300 $a 73 p.
500 $a Source: Dissertation Abstracts International, Volume: 64-09, Section: A, page: 3388.
500 $a Adviser: Robert Dekle.
502 $a Thesis (Ph.D.)--University of Southern California, 2003.
520 $a The dissertation covers two categories on exchange rate behavior and prices. The first category involves the pass-through of exchange rate changes to import prices and the second category involve the divergent behavior of domestic and export prices and violations of the Law of One Price. It explores the behavior of exchange rates, prices, and industrial behavior during the Asian Currency Crisis using monthly data from U.S., Japan, Thailand, and Korea from January 1990 to December 2001. Data from eleven industrial price categories that include general wholesale prices, agriculture, manufacturing, petroleum, leather, textile, chemical, paper, rubber, transportation, and machinery and equipment are used.
520 $a The first essay examines theoretically and empirically, the exchange rate pass-through of export prices. Generally, pass-through is not complete. Pass-through into export prices would tend to be lower in industries, where (1) the fraction of imported inputs is high; and (2) the competition with similar foreign products is high. Consistent with the theory, pass-through to Korea, the market with more competitive producers is indeed lower than pass-through to Thailand. Moreover, theoretical predictions for industry level effects are also consistent with the data; pass-through in highly competitive industries are in fact lower. Finally, we find evidence that pass-through behavior by Japanese firms is smaller than that of U.S. firms.
520 $a The second essay examines whether the adjustment to Purchasing Power Parity (PPP) after the Asian crisis has occurred through changes in domestic prices or through changes in nominal exchange rates. It explores the channels through which the real exchange rate mean reversion occurs and the speed in which the reversion occurs. Using an error correction specification, the results show that the Asian crisis significantly contributed to the slower mean reversion process, especially for the Japan-Thai pairs. Furthermore, PPP reversion is faster and more certain through nominal exchange rates during both the pre- and post-crisis. Domestic price adjustments are generally sluggish during both periods. By adjusting through nominal exchange rates, rather than domestic prices, the price gap between Korea and Thailand vis-à-vis U.S. and Japan are minimized. For all the pairs, the speed of the nominal exchange rate adjustment is slower in the post-crisis period (more persistent deviations from PPP) than in the pre-crisis period.
590 $a School code: 0208.
650 4 $a Economics, General. $3 1017424
690 $a 0501
710 2 0 $a University of Southern California. $3 700129
773 0 $t Dissertation Abstracts International $g 64-09A.
790 1 0 $a Dekle, Robert, $e advisor
790 $a 0208
791 $a Ph.D.
792 $a 2003
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3103913