It has been widely remarked that US import prices have not fully reflected movements in the exchange rate. This paper begins with an investigation of the actual extent of "pricing to market" by foreign suppliers. It shows that pricing to market is a real phenomenon, but not…
# Pricing to Market when the Exchange Rate Changes
> OpenAlex Metadata Hub · https://openalex.org/W1599024647
## Bibliographic
- **DOI:** 10.3386/w1926
- **Year:** 1986
- **Citations:** 905
- **Open Access:** Yes (green)
- **License:** —
- **Source:** https://doi.org/10.3386/w1926
## Authors
- Paúl Krugman
## Abstract
It has been widely remarked that US import prices have not fully reflected movements in the exchange rate. This paper begins with an investigation of the actual extent of "pricing to market" by foreign suppliers. It shows that pricing to market is a real phenomenon, but not universal; in particular, evidence on German export prices suggests that stickiness of import prices is largely confined to machinery and transport equipment. The paper then considers a number of possible models. While the evidence is not sufficient to distinguish among these models, it seems probable that a full explanation will involve both dynamics and imperfect competition.
## Keywords
Exchange rate, Financial economics, Economics, Business, Econometrics, Monetary economics
## Concepts
- Exchange rate
- Financial economics
- Economics
- Business
- Econometrics
- Monetary economics
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*Metadata only — full text not imported unless Open Access license permits.*
Bài “Pricing to Market when the Exchange Rate Changes” được TradingBase chuyển thành Knowledge Product cho trader — không phải trang đọc abstract OpenAlex.
Tóm lược học thuật (đã diễn giải): It has been widely remarked that US import prices have not fully reflected movements in the exchange rate. This paper begins with an investigation of the actual extent of "pricing to market" by foreign suppliers. It shows that pricing to market is a real phenomenon, but not universal; in particular, evidence on German export prices suggests that stickiness of import prices is largely confined to machinery and transport equipment. The paper then considers a number of possible models. While the evidence is not sufficient to distinguish among these models, it seems probable that a full explanation will involve both dynamics and imperfect competition.
Phần Trading Insights bên dưới nối nghiên cứu với Forex, vàng, USD, lãi suất và risk regime — để bạn đưa vào journal và playbook.
Metadata DOI/OA chỉ là rail tham chiếu; nội dung chính là summary, takeaways và ứng dụng thị trường do Content Factory sinh.
1. It has been widely remarked that US import prices have not fully reflected movements in the exchange rate.
2. This paper begins with an investigation of the actual extent of "pricing to market" by foreign suppliers.
3. It shows that pricing to market is a real phenomenon, but not universal; in particular, evidence on German export prices suggests that stickiness of import prices is largely confined to machinery and transport equipment.
4. The paper then considers a number of possible models.
5. While the evidence is not sufficient to distinguish among these models, it seems probable that a full explanation will involve both dynamics and imperfect competition.
Trader nên nối luận điểm policy/lãi suất trong tài liệu với bias trung hạn của USD và các cặp major — đặc biệt quanh FOMC / dữ liệu CPI.
Với XAUUSD: kỳ vọng cắt lãi / USD yếu thường hỗ trợ vàng; hawkish surprise thường gây áp lực giảm — dùng khung này để đọc reaction sau tin, không đoán trước.
Áp dụng vào FX: theo dõi transmission từ theory (pricing, carry, balance-sheet) sang hành vi giá trên M15–H4 sau các event thanh khoản cao.
Góc Forex: đối chiếu kết luận bài với hành giá gần nhất và lịch tin impact cao trước khi vào lệnh.
Góc Gold (XAUUSD): đối chiếu kết luận bài với hành giá gần nhất và lịch tin impact cao trước khi vào lệnh.
Trading: rút 1 bias hoặc 1 setup hypothesis từ Key Takeaways, test trên demo/journal trước khi live.
Risk: chuyển insight thành rule (max risk/trade, pause quanh tin, correlation USD–vàng) và gắn vào playbook.
