Czasopismo
Tytuł artykułu
Autorzy
Warianty tytułu
Języki publikacji
Abstrakty
The basis for our analysis is a monopolistic risk neutral exporting firm searching for optimum invoicing under exchange rate risk. The exporting firm exposes itself to various risks depending on the selection of the invoicing currency, namely a transaction risk while selecting the currency of the importer (local currency pricing) and an economic risk while selecting the currency of the exporter (producer currency pricing). The resulting risk is different in both cases and can therefore be influenced by the selection of the invoicing currency. (original abstract)
Słowa kluczowe
Czasopismo
Rocznik
Tom
Numer
Strony
5-14
Opis fizyczny
Twórcy
autor
- Technische Universität Dresden, Germany
autor
- Technische Universität Dresden, Germany
autor
- Technical University of Dortmund, Germany
Bibliografia
- Amann, E., Römmich M. (1999), The Impact of Exchange Rate Risk on Inter-country Trade and Production, Review of International Economics, vol. 7, issue 2, pp. 297-305.
- Bacchetta, P., Wincoop E. v. (2005), A theory of the currency denomination of international trade, Journal of International Economics, vol. 67, issue 2, pp. 295-319.
- Broll, U., Wahl, J.E., Wong, W.-K. (2006), Elasticity of risk aversion and international trade, Economics Letters, vol. 92, issue 1, pp. 126-130.
- Broll, U., Eckwert, B. (2009), Modelling information and hedging: the exporting firm, Journal of Economic Modelling, vol. 26, issue 4, pp. 974-977.
- Broll, U., Wong, K.P. (2006), Multinationals, hedging and capital structure under exchange rate uncertainty, Open Economies Review, vol. 17, issue 1, pp. 103-114.
- Donnenfeld, S., Zilcha, I. (1995), Bargaining in international trade under exchange rate uncertainty, Review of International Economics, vol. 3, issue 3, pp. 249-263.
- ECB (European Central Bank) (2008), Review of the International Role of the Euro.
- ECB (European Central Bank) (2009), The recent exceptional rise in exchange rate volatility, Monthly Bulletin, February, pp. 62-63.
- Elliott, W.B., Huffman, S.P., Makar, S.D. (2003), Foreign-denominated debt and foreign currency derivatives: complements or substitutes in hedging foreign currency risk?, Journal of Multinational Financial Management, vol. 13, issue 2, pp. 123-139.
- Faruqee, H. (2006), Exchange Rate Pass-Through in the Euro Area, IMF Staff Papers, vol. 53, issue 1, pp. 63-88.
- Feenstra, R.C., Taylor, A.M. (2008), International Economics, Worth Publishers, New York, NY.
- Fendel, R., Frenkel, M., Swonke, C. (2008), Local currency pricing versus producer currency pricing: direkt evidence from german exporters, German Economic Review, vol. 9, issue 2, pp. 160-179.
- Flodén, M., Wilander, F. (2006), State dependent pricing, invoicing currency, and exchange rate pass-through, Journal of International Economics, vol. 70, issue 1, pp. 178-196.
- Friberg, R. (1998), In which currency should exporters set their prices? Journal of International Economics, vol. 45, issue 1, pp. 59-76.
- Froot, K.A., Scharfstein, D.S., Stein, J.C. (1993), Risk management: coordinating corporate investment and financing policies, Journal of Finance, vol. 48, issue 5, pp. 1629-1658.
- Goldberg, L.S., Tille, C. (2008), Vehicle currency use in international trade, Journal of International Economics, vol.76, issue 2, pp. 177-192.
- Krugman, P.R., Obstfeld, M. (2009), International Economics, Pearson, Boston et al.
- Lane, P. R. (2001), The new open economy macroeconomics: a survey, Journal of International Economics, vol. 54, issue 2, pp. 235-266.
- Melvin, M., Sultan, J. (1990), The choice of an invoicing currency in international trade and the balance of trade impact of currency depreciation, Open Economies Review, vol.1, issue 3, pp. 251-268.
- Wong, K.P. (2003), Export flexibility and currency hedging, International Economic Review, vol. 44, issue 4, pp. 1295-1298.
Typ dokumentu
Bibliografia
Identyfikatory
Identyfikator YADDA
bwmeta1.element.ekon-element-000171223419