Work

Exports and Invoicing: Evidence from the 2015 Swiss Franc Appreciation

Year: 2019

Type: article

Abstract: Do differences in border price adjustment by currency of invoicing carry over to allocations? We document the cross-industry variation in the response of Swiss export prices and export values by currency of invoicing of border prices in the aftermath of the large and abrupt Swiss franc (CHF) appreciation in January 2015. Industries with higher CHF-invoicing shares (and a larger increase in foreign-currency denominated prices) experienced substantially weaker export growth in the two-year period after January 2015.

Source: AEA Papers and Proceedings

DOI: 10.1257/pandp.20191008

Authors: Raphael Auer, Ariel Burstein, Katharina Erhardt, Sarah M. Lein

Institutions: Bank for International Settlements, University of California, Los Angeles, ETH Zurich, University of Basel

Language: English

Topic: Global trade and economics

Subfield: General Economics, Econometrics and Finance

Field: Economics, Econometrics and Finance

Domain: Social Sciences

Open Access status: green

OpenAlex ID: W2945992283

FWCI: 6.459

Cites: 4

Cited by: 23

Related to: 10