期刊名称：Birkbeck Working Papers in Economics and Finance / School of Economics, Mathematics and Statistics, Birkbeck College
印刷版ISSN：1745-8587
出版年度：2006
卷号：2006
出版社：London University
摘要：We suggest a new dynamic equilibrium approach that features product
differentiation and endogenizes market structure at the same time. The model
yields clear-cut predictions regarding the effects of small and large exchange
rate shocks on the market structure, pass-through and international trade.
First, we account for the asymmetric price adjustment process with respect to
exchange rate shocks. Secondly, we discuss an array of conditions where short
and long-run international monetary neutrality is violated. We present in
detail under which conditions imperfect competition is able to generate
persistent and volatile real exchange rate deviations. Most predictions survive
alternative market configurations.
