The macroeconomic evidence on the short-term impact of exchange rates on exports and prices is notoriously weak. In this paper I examine the micro-foundations of this disconnect by looking at firms’ export and price setting decisions in response to fluctuations in exchange rates and credit conditions using German firm survey data. Firmlevel data on pricing and export expectations enables me to ...

A large body of empirical work documents that prices of traded goods change by a smaller proportion than real exchange rates between the trading countries (incomplete pass-through). The wedge between exchange rates and relative prices also varies across countries (pricing-tomarket). I present a model of trade and international price-setting with heterogeneous firms, where firms’ strategic behav...

Does SAS implicit SQL pass-through sometimes fail to meet your needs? Do you sometimes need to communicate directly with your Oracle or DB2 database in that database's native language? Explicit SQL pass-through might be your solution. The author briefly introduces syntax for explicit SQL pass-through queries before showing examples of specific situations when explicit pass-through queries solve...

The paper examines the effect of exchange rate changes on consumer prices in Ghana using vector autoregression (VAR) models. Using a data set covering the period 1990M01–2009M02, we find that the exchange rate pass-through to inflation is ‘incomplete’ and decreasing in Ghana. Our empirical results indicate a low but significant pass-through in the short run. We argue that the findings reflect t...

A large body of empirical work documents that prices of traded goods change by a smaller proportion than real exchange rates between the trading countries (incomplete pass-through). I present a Ricardian model of trade and international price-setting with heterogeneous firms, Bertrand competition and incomplete information. The model implies that: 1) firm-level passthrough is incomplete and a U...

We present a new algorithm for a molecular pass planning through a circle. Our algorithm can solve the given problem with the significant improvement of accuracy for arbitrary shaped molecules in comparison with the method using a minimal bounding sphere. This accuracy is gained by eliminating the overestimation of the substrate size by the bounding volume approaches. Our approach is particular...

Cross-Brand Pass-Through in Supermarket Pricing We investigate the sensitivity of cross-brand pass-through estimates to two types of pooling: across stores, and across regular price and promotional price weeks. Using the category data from Besanko, Dubé and Gupta (2005), hereafter BDG, we find consistent support across all 11 categories for the predictive power of the wholesale prices of substi...

We propose a candidate solution to the imperfect exchange rate passthrough puzzle: habit persistence at the level of individual goods varieties. Deep habits generate a dynamic import demand function that leads to import price markup adjustments, independently of nominal pricing frictions. Augmenting a standard two-country model with deep habits, we obtain low exchange rate pass-through to impor...

The multinational retailer IKEA represents a natural laboratory for studying international pricing and product cycle behavior. With 314 stores in 38 countries, IKEA is a major international presence in retail housewares and furnishings. IKEA is unique among homegoods retailers in its publication of annual catalog of prices guaranteed to hold for 1 year. This paper examines international pricing...

How do the components of neuronal circuits collaborate to select combinations of synaptic inputs from multiple pathways? In this issue of Neuron, Milstein et al. (2015) uncover mechanisms of synaptic facilitation and dendritic inhibition that cooperate to provide filtering for co-active inputs of distinct origins.