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  1. 117 経済学研究科・経済学部
  2. 70 日本経済国際共同センター
  3. Discussion Paper F series (in English)
  1. 0 資料タイプ別
  2. 60 レポート類
  3. 061 ディスカッションペーパー

The Choice of Invoice Currency under Uncertainty : Theory and Evidence from Korea

http://hdl.handle.net/2261/2547
http://hdl.handle.net/2261/2547
4582cd06-f311-4ae5-a38c-d76388216065
Item type テクニカルレポート / Technical Report(1)
公開日 2013-06-03
タイトル
タイトル The Choice of Invoice Currency under Uncertainty : Theory and Evidence from Korea
言語
言語 eng
資源タイプ
資源 http://purl.org/coar/resource_type/c_18gh
タイプ technical report
アクセス権
アクセス権 metadata only access
アクセス権URI http://purl.org/coar/access_right/c_14cb
著者 Fukuda, Shin-ichi

× Fukuda, Shin-ichi

WEKO 97620

Fukuda, Shin-ichi

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Ono, Masanori

× Ono, Masanori

WEKO 97621

Ono, Masanori

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著者所属
著者所属 University of Tokyo
著者所属
著者所属 Fukushima University
抄録
内容記述タイプ Abstract
内容記述 The purpose of this paper is to investigate the choice of invoice currency under exchange rate uncertainty. The analysis is motivated by the fact that the U.S. dollar has been the dominant vehicle currency in developing countries. The theoretical analysis is based on an open economy model of monopolistic competition. The export prices are set before exchange rates are known. When the market is competitive enough, the exporting firms tend to set their prices not to deviate from those of the competitors. As a result, when the other exporters set their prices in the third currency, the exporting firm tends to choose the third currency as an equilibrium invoice currency. The tendency becomes conspicuous in the market where the shares of local firms are small. The latter part of the paper empirically investigates the relevancy of the theoretical results by using the export price data in Korea. We find that export prices in Korea are highly stable in terms of the US dollar even in the commodities for which Japan has had dominant shares. We also find that export prices in Korea are more stable against the US dollar in the commodities for which the shares of local firms are small in Japan. The empirical results are consistent with our theoretical model. The result may explain why the firm tends to set prices in the US dollar even if the United States is not a trade partner.
内容記述
内容記述タイプ Other
内容記述 本文フィルはリンク先を参照のこと
書誌情報 Discussion paper series. CIRJE-F

巻 2004-CF-271, 発行日 2004-04
書誌レコードID
収録物識別子タイプ NCID
収録物識別子 AA11450569
フォーマット
内容記述タイプ Other
内容記述 application/pdf
日本十進分類法
主題Scheme NDC
主題 330
出版者
出版者 日本経済国際共同センター
出版者別名
Center for International Research on the Japanese Economy
関係URI
識別子タイプ URI
関連識別子 http://www.cirje.e.u-tokyo.ac.jp/research/dp/2004/2004cf271ab.html
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