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Exchange rate pass-through on South Korean exports
Jönköping University, Sweden.
2008 (English)In: Presented at the 11th Uddevalla Symposium: "Spatial Dispersed Production and Network Governance", Kyoto, Japan, May 15-17, 2008, 2008Conference paper, Oral presentation only (Other academic)
Abstract [en]

This paper examines the degree of markup adjustment of South Korean exports across major destinations in relation to the exchange rate movements using 5 commodity groups of exports. A specific type of pricing-to-market so-called ‘local-currency price stabilization’ which stabilizes the import prices by reducing markups in time of exporter’s currency appreciation found to be a dominant strategy in the short-run. More differentiated commodity groups of exports ‘pass-through’ less of the impact caused by exchange rate changes to their exports price in the long-run, which leads to more ‘pass-through’ to the imports price.

Place, publisher, year, edition, pages
2008.
National Category
Economics
Research subject
Economy, Economics
Identifiers
URN: urn:nbn:se:lnu:diva-78400OAI: oai:DiVA.org:lnu-78400DiVA, id: diva2:1257598
Conference
The 11th Uddevalla Symposium: "Spatial Dispersed Production and Network Governance", Kyoto, Japan, May 15-17, 2008
Available from: 2018-10-22 Created: 2018-10-22 Last updated: 2019-10-07Bibliographically approved
In thesis
1. Dynamics of macroeconomic and financial variables in different time horizons
Open this publication in new window or tab >>Dynamics of macroeconomic and financial variables in different time horizons
2012 (English)Doctoral thesis, comprehensive summary (Other academic)
Abstract [en]

This dissertation consists of an introductory chapter and four papers dealing with financial issues of open economies, which can be in two broad categorizations: 1) exchange rate movements and 2) stock market interdependence. The first paper covers how the exchange rate changes affect the prices of internationally traded goods. With the variables (the price of exports in exporters’ currency and the exchange rate, both of which are in logarithmic form) being cointegrated, a model with both long- and short-run characteristics (the Error Correction Model, ECM) is formulated.

The second paper relates to the standard macroeconomic models of exchange rate determination. This paper investigates the relationship between the exchange rate and the domestic-foreign interest rate differential.

A relevant issue associated with the relationship between export prices and exchange rates for different industries is found in the third paper. The responsiveness of firms’ profitability to changes in exchange rates (i.e. exchange rate exposure) is tested using a factor model.

After the three papers noted above, the dissertation moves on to the final paper which explores the relationship between national stock markets (i.e. interdependence). The causal linkages of the U.S. stock market to each of six eastern Asian national stock markets (China, Hong Kong, Japan, Singapore, South Korea and Taiwan) as well as the causal linkages among those Asian equity markets are tested in a vector autoregression (VAR) model using wavelet-decomposed data.

Place, publisher, year, edition, pages
Jönköping: Jönköping International Business School, Jönköping University, 2012. p. 48
Series
JIBS Dissertations Series, ISSN 1403-0470 ; 077
National Category
Economics
Research subject
Economy, Economics
Identifiers
urn:nbn:se:lnu:diva-78458 (URN)978-91-86345-29-7 (ISBN)
Public defence
2012-04-13, 10:00 (English)
Opponent
Supervisors
Available from: 2018-10-25 Created: 2018-10-24 Last updated: 2019-08-30Bibliographically approved

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Karlsson, Hyunjoo Kim

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CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • harvard1
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf