Joseph Gagnon

Peterson Institute for International Economics

E-Mail: EmailAddress: hidden: you can email any NBER-related person as first underscore last at nber dot org
Institutional Affiliation: U.S. Naval Academy

NBER Working Papers and Publications

July 1993Market Share and Exchange Rate Pass-Through in World Automobile Trade
with Robert C. Feenstra, Michael M. Knetter: w4399
This paper explores the relationship between exchange rate pass-through and market share for monopolistically competitive exporters. Under fairly general assumptions we show that pass-through should be high for exporters based in a country with a very large share of total destination market sales. For source countries with small and intermediate market shares, the theoretical relationship is potentially nonlinear and sensitive to assumptions about the nature of consumer demand and firm interactions. The model is estimated using a panel data set of automobile exports from France, Germany, Sweden, and the United States to a variety of destinations over the period 1970-1988. The empirical relationship between pass-through and market share is significantly non-linear: pass-through is the lowes...

Published: Journal of International Economics, vol. 40, no. 1-2, Feb. 1996, pp. 187-207 citation courtesy of

July 1992Markup Adjustment and Exchange Rate Fluctuations: Evidence From Panel Data on Automobile Exports
with Michael M. Knetter: w4123
This paper uses bilateral automobile export unit values from the United States, Germany and Japan to measure the importance of markup adjustment that is associated with exchange rate changes across export destination markets. Japanese auto export prices exhibit a high degree of markup adjustment that has the effect of stabilizing prices in units of the buyer's currency. There is weak evidence of this behavior in German auto exports and none for U.S. auto exports. Where it exists, markup adjustment is very persistent, not merely a short run phenomenon. The dynamic pattern of adjustment is consistent with invoicing in the exporter's currency, except for exports to the United States and Canada.

Published: Journal of International Money and Finance, April 1995, pp. 289-310 citation courtesy of

January 1992How Pervasive is the Product Cycle? The Empirical Dynamics of American and Japanese Trade Flows
with Andrew K. Rose: w3946
This paper looks for dynamic patterns in international trade flows using comprehensive multilateral American and Japanese data disaggregated to the four-digit SITC level. Little evidence is found of product-cycle dynamics between 1962 and 1988. Rather, goods that begin the sample in surplus (deficit) almost always remain in surplus (deficit) throughout the sample.

Published: Oxford Economic Papers, 1995.

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