INVESTMENT PRICES AND EXCHANGE RATES: SOME BASIC FACTS

被引：20

作者：

Burstein, Ariel T. ^{[1
]}

Rebelo, Sergio ^{[2
,3
,4
]}

Neves, Joao C. ^{[5
]}

机构：

[1] Univ Calif Los Angeles, Los Angeles, CA 90095 USA

[2] Northwestern Univ, Evanston, IL 60208 USA

[3] NBER, Cambridge, MA 02138 USA

[4] CEPR, London, England

[5] Portuguese Catholic Univ, Lisbon, Portugal

来源：

JOURNAL OF THE EUROPEAN ECONOMIC ASSOCIATION | 2004年 / 2卷 / 2-3期

关键词：

D O I：

10.1162/154247604323068005

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper documents four basic facts about investment goods and investment prices. First, investment has a very significant nontradable component in the form of construction services. Second, distributions services (wholesaling, retailing, and transportation) are much less important for investment than for consumption. Third, the import content of investment is much larger than that of consumption. Finally, in the aftermath of three large devaluations, the rate of exchange rate pass-through is, perhaps not surprisingly, highest for imported equipment and lowest for construction services. (JEL: F41)

引用

页码：302 / 309

页数：8

共 7 条

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