Global value chains and exchange rate pass-through into the import prices of Japanese industries

IF 1.3 4区经济学 Q3 ECONOMICS

Japan and the World Economy Pub Date : 2025-03-06 DOI:10.1016/j.japwor.2025.101299

Fabien Rondeau , Yushi Yoshida

引用次数: 0

Abstract

With internationally fragmented processes of production via global value chains, value-added components of a country’s export include the importer’s contributions as well as that of exporters. The exchange rate sensitivity of export price reflects these value-added components. We examine the effect of value-added contributions of exporters and importers on the degree of exchange rate pass-through by focusing on the Japanese import prices by industries. Our results show that exchange rate pass-through increases for industries with a higher contribution of exporting countries’ value added and for industries with a lower contribution of the importing country’s value added. The differentials in value added among industries help explain the dynamics of exchange rate pass-through at the industry level.

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在通过全球价值链进行国际分工的生产过程中，一国出口的增值部分包括进口商和出口商的贡献。出口价格的汇率敏感性反映了这些增值部分。我们通过关注日本各行业的进口价格，研究了出口商和进口商的增值贡献对汇率传递程度的影响。我们的研究结果表明，对于出口国附加值贡献率较高的行业和进口国附加值贡献率较低的行业，汇率传递会增加。行业间附加值的差异有助于解释行业层面的汇率传递动态。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Japan and the World Economy ECONOMICS-

CiteScore

2.60

自引率

0.00%

发文量

审稿时长

46 days

期刊介绍： The increase in Japan share of international trade and financial transactions has had a major impact on the world economy in general and on the U.S. economy in particular. The new economic interdependence between Japan and its trading partners created a variety of problems and so raised many issues that require further study. Japan and the World Economy will publish original research in economics, finance, managerial sciences, and marketing that express these concerns.