Endogenous Exchange Rate Pass-through when Nominal Prices are Set in Advance

This paper develops a model of endogenous exchange rate pass through within an open economy macroeconomic framework, where both pass-through and the exchange rate are simultaneously determined, and interact with one another. Pass-through is endogenous because firms choose the currency in which they set their export prices. There is a unique equilibrium rate of pass-through under the condition that exchange rate volatility rises as the degree of pass-through falls. We show that the relationship between exchange rate volatility and economic structure may be substantially affected by the presence of endogenous pass-through. Our key results show that pass-through is related to the relative stability of monetary policy. Countries with relatively low volatility of money growth will have relatively low rates of exchange rate pass-through, while countries with relatively high volatility of money growth will have relatively high pass-through rates.

Endogenous Exchange Rate Pass-through when Nominal Prices are Set in Advance

This paper develops a model of endogenous exchange rate pass-through within an open economy macroeconomic framework, where both passthrough and the exchange rate are simultaneously determined, and interact with one another. Pass-through is endogenous because firms choose the currency in which they set their export prices. There is a unique equilibrium rate of pass-through under the condition that exchange rate volatility rises as the degree of pass-through falls. We show that the relationship between exchange rate volatility and economic structure may be substantially affected by the presence of endogenous pass-through. Our key results show that pass-through is related to the relative stability of monetary policy. Countries with relatively low volatility of money growth will have relatively low rates of exchange rate pass-through, while countries with relatively high volatility of money growth will have relatively high pass-through rates.

Talking, Listening and Emancipation: : A Heideggerian Take on the Peer-Relation in Self-Help

This paper adds a phenomenological account to the discussion on what constitutes the favorable prospects of the peer-relation in the context of self-help. By drawing on Heidegger’s lectures on St Paul’s First Thessalonians, and engaging in dialogue with a fictive case, we show that more attention needs to be given to how meaning is enacted, rather than simply adopted, in the peer-relation; that is, away from experiential content towards the process of how experiential knowledge is transferred communicatively. This, we argue, may clarify the underpinnings of the peer-relation and its emancipatory potential. Our findings propose a reconsideration of the role played by communicative activities in self-help. And, whereas storytelling has often been propounded as a way to facilitate agency among self-helpers, also the act of listening should receive more attention. By considering listening as an expression of agency, attention is reversed from self-narration on behalf of the person expected to be helped from it, to participation in another person’s story. The enaction approach to the peer-relation elaborated on in this paper invites the reader to rethink the value of talking and listening in helping relationships