ASYMMETRIC EXCHANGE RATE PASS-THROUGH IN U.S. IMPORTS OF COCOA

被引:7
|
作者
Luckstead, Jeff [1 ]
机构
[1] Univ Arkansas, Dept Agr Econ & Agribusiness, Fayetteville, AR 72701 USA
基金
美国食品与农业研究所;
关键词
Asymmetric exchange rate pass-through; NARDL; U.S. cocoa imports;
D O I
10.1017/aae.2018.1
中图分类号
F3 [农业经济];
学科分类号
0202 ; 020205 ; 1203 ;
摘要
Both the autoregressive distributed lag (ARDL) and the nonlinear ARDL frameworks are applied to model U.S. imports of cocoa beans from Cote d'Ivoire, Ghana, and the Dominican Republic (more than 90% of U.S. cocoa imports originate from these three countries). The results provide evidence of nonlinear and asymmetric pass-through of exchange rates, regional quality difference, and imperfect competition in U.S. cocoa imports. Furthermore, a rise or fall in U.S. income leads to an increase or decrease in U.S. cocoa imports.
引用
收藏
页码:369 / 386
页数:18
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