Expenditure Switching and Exchange-Rate Policy

By Charles M. Engel. NBER macroeconomics annual, 2002

207 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Finance

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Citations in the corpus

Macroeconomics of International Price Discrimination (2002, unknown): “[18] Engel, Charles [2002].”
Current Account Imbalances and Real Exchange Rates in the Euro Area (2006, unknown): “The “expenditure-switching” mechanism retains its validity in the Obstfeld and Rogoff (1995) Redux model, provided that nominal prices are predetermined in the producer country and the exchange rate passthrough is complete (see Engel, 2002).”
Fiscal Policy, the Real Exchange Rate and Traded Goods (2010, unknown): “It also holds in models with different frictions like local currency pricing, pricing-to-market and trade costs (Engel, 2002) and in models with 16 Notice also that the fall in investment is dampened in the case in which prices are sticky only in the nontraded sector.”
Exchange Rate Fluctuations, Financing Constraints, Hedging, and Exports: Evidence from Firm Level Data (2007, unknown): “The new view is that relative prices are not much affected by exchange rate fluctuations in the short-run (see Obstfeld, 2002, and Engel, 2002 for reviews), thus muting expenditure shifts.”
Self-Selection and Post-Entry Effects of Exports: Evidence from Italian Manufacturing Firms (2008, unknown): “According to the theoretical literature which analyze the impact of exchange fluctuations on real economic variables (see Obstfeld (2002) and Engel (2002) for reviews), exchange rate fluctuations are strongly related to the export quantities of firms and, more generally, to the export flows of a…”
Smooth Landing or Crash? Model-Based Scenarios of Global Current Account Rebalancing (2005, unknown): “See, for example, Engel (1993), Engel and Rogers (1996), Rogoff (1996), Obstfeld and Rogoff (2000a,b), Devereux and Engel (2002), Corsetti and Dedola (2002), and Choudhri, Faruqee, and Hakura (2005).”
A macroeconomic model of international price discrimination (2005, unknown): “Early contributions assume that foreign exporters quote their prices in local currency—see Engel (2002) for a survey of the literature, and Corsetti and Pesenti (2001b) for a generalization of this approach.”
Expenditure Switching vs. Real Exchange Rate Stabilization: Competing Objectives for Exchange Rate Policy (2007, unknown): “Engel (2002) notes that the expenditure-switching role of exchange rate adjustment depends critically on the substitutability of inputs in production.”
Rational speculation and exchange rates (2001, unknown): “In a general equilibrium framework similar to ours, Devereux and Engel (2002) have explored the role of noise traders in foreign exchange markets in explaining the high volatility of exchange rates and their disconnect from other macroeconomic variables.”
Why do Consumer Prices React Less than Import Prices to Exchange Rates (2002, unknown): “1. See Lane (2001) for a survey of New Open Economy Macroeconomics models and Engel (2002) for a survey of the literature on exchange rates and prices.”
A Structural Approach to Identifying the Sources of Local Currency Price Stability (2007, unknown): “∈ [( − ) ¡ (   (   ))− (    −) ¢ ]  6=  (17)”
Monetary Policy in a Low Pass-Through Environment (2005, unknown): “pF,t = F pF,t 1 + (1 F )p new F,t (17) The log-linear version of (16) yields:”
Empirical Evidence on the Role of Nonlinear Wholesale Pricing and Vertical Restraints on Cost Pass-Through (2009, background): “Nominal price stickiness and rigidities (Engel, 2002; Goldberg & Hellerstein, 2010; Nakamura & Zerom, 2010; Noton, 2008), long-term contracts (Bettendorf & Verboven, 2000), and the possibility of markup adjustments along the supply distribution chain (Bettendorf & Verboven, 2000; Goldberg &…”