- 영문명
- Export Price Strategy of Japanese Firms in Response to Fluctuations in Yen Exchange Rate
- 발행기관
- 한국무역연구원
- 저자명
- 온기운(Ki-Un Ohn)
- 간행물 정보
- 『무역연구』제12권 제5호, 227~247쪽, 전체 21쪽
- 주제분류
- 경제경영 > 무역학
- 파일형태
- 발행일자
- 2016.10.30

국문 초록
영문 초록
VThis paper intends to analyse the export-price strategy of Japanese firms in response to fluctuations in the yen’s exchange rate using rolling regression method. The parameter was estimated over a rolling window with a 24 sample size over the period 1Q 1980-2Q 2015. From the estimation results, we found out that the extent of pass-through into the contract-currency-denominated price of Japanese firms following yen exchange rate changes
has been lowering over time. That is, Japanese firms are recently emphasizing Pricing-to-market rather than Pass-through as a strategy unlike in the past. In the period of the yen’s sharp depreciation following the launching of the so-called Abenomics era, such depreciation has not been fully reflected in the contract-currency-denominated price of export products. This means that Japanese export firms put emphasis on the profit margin rather than market share By this strategy Japanese firms can accumulate fund for R&D investment or wage increase, internal reserves expansion, among others.
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