Exports and Invoicing: Evidence from the 2015 Swiss Franc Appreciation
- Auer, Raphael Bank for International Settlements, Central-bahnplatz 2, 4002 Basel, Switzerland (email: )
- Burstein, Ariel University of California, Los Angeles, Bunche Hall 8365, Los Angeles, CA 90095 (email: )
- Erhardt, Katharina ETH Zurich, Leonhardstrasse 35, 8092 Zurich, Switzerland (email: )
- Lein, Sarah M. University of Basel, Peter-Merian-Weg 6, 4002 Basel, Switzerland (email: )
Published in:
- AEA Papers and Proceedings. - American Economic Association. - 2019, vol. 109, p. 533-538
English
Do differences in border price adjustment by currency of invoicing carry over to allocations? We document the cross-industry variation in the response of Swiss export prices and export values by currency of invoicing of border prices in the aftermath of the large and abrupt Swiss franc (CHF) appreciation in January 2015. Industries with higher CHF-invoicing shares (and a larger increase in foreign-currency denominated prices) experienced substantially weaker export growth in the two-year period after January 2015.
- Language
-
- English
- Open access status
- green
- Identifiers
-
- DOI 10.1257/pandp.20191008
- ISSN 2574-0768
- Persistent URL
- https://folia.unifr.ch/global/documents/262136
Statistics
Document views: 17
File downloads:
- fulltext.pdf: 0