Exchange rate pass-through in a competitive model of pricing-to-market

This paper extends the Mussa and Rosen (1978) model of quality-pricing under perfect competition. Exporters sell goods of different qualities to consumers who have heterogeneous preferences for quality. Production is subject to decreasing returns to scale and, therefore, supply and the toughness of competition react to cost changes brought about by exchange rate fluctuations. First, we predict that exchange rate shocks are imperfectly passed through into prices. Second, prices of low quality goods are more sensitive to exchange rate shocks than prices of high quality goods. Third, in response to an exchange rate appreciation, the composition of exports shifts towards higher quality and more expensive goods.> ; We test these predictions using highly disaggregated price and quantity U.S. import data. We find evidence that in response to an exchange rate appreciation, the composition of exports shifts towards high unit price goods. Therefore, exchange rate passthrough rates that are measured using aggregate data will tend to overstate the actual extent of pass-through.Foreign exchange rates ; Econometric models ; International trade

Cost Pass Through in a Competitive Model of Pricing-to-Market

This paper builds up an extension to the Mussa and Rosen (1978) model of quality pricing under perfect competition. Our model incorporates decreasing returns to scale. First, we predict that exchange rate shocks are imperfectly passed through into prices. Second, prices of low quality goods are more sensitive to exchange rate shocks than prices of high quality goods. Third, in response to an exchange rate appreciation, the composition of exports shifts towards higher quality and more expensive goods. We test those predictions using highly disaggregated price and quantity US import data. We find that the prices of high quality goods, proxied as high unit price goods, are more sensitive to exchange rate movements. Moreover, we find evidence that in response to an exchange rate appreciation, the composition of exports shifts towards high unit price goods.Pricing-to-Market, Exchange Rate Pass Through, Local Distribution

Exchange Rate Pass-Through in a Competitive Model of Pricing-to-Market

This paper extends the Mussa and Rosen (1978) model of quality pricing under perfect competition. Exporters sell goods of different qualities to consumers who have heterogeneous preferences for quality. Production is subject to decreasing returns to scale and, therefore, supply and the toughness of competition react to cost changes brought about by exchange rate fluctuations. First, we predict that exchange rate shocks are imperfectly passed through into prices. Second, prices of low-quality goods are more sensitive to exchange rate shocks than prices of high-quality goods. Third, in response to an exchange rate appreciation, the composition of exports shifts toward higher quality and more expensive goods. We test these predictions using highly disaggregated price and quantity U.S. import data and find only weak empirical evidence in support of our theory

Measurement of Fecal Testosterone Metabolites in Mice: Replacement of Invasive Techniques

Testosterone is the main reproductive hormone in male vertebrates and conventional methods to measure testosterone rely on invasive blood sampling procedures. Here, we aimed to establish a non-invasive alternative by assessing testosterone metabolites (TMs) in fecal and urinary samples in mice. We performed a radiometabolism study to determine the effects of daytime and sex on the metabolism and excretion pattern of radiolabeled TMs. We performed physiological and biological validations of the applied EIA to measure TMs and assessed diurnal fluctuations in TM excretions in male and female mice and across strains. We found that males excreted significantly more radiolabeled TMs via the feces (59%) compared to females (49.5%). TM excretion patterns differed significantly between urinary and fecal samples and were affected by the daytime of ³H-testosterone injection. Overall, TM excretion occurred faster in urinary than fecal samples. Peak excretion of fecal TMs occurred after 8 h when animals received the 3H-testosterone in the morning, or after 4 h when they received the 3H-testosterone injection in the evening. Daytime had no effect on the formed TMs; however, males and females formed different types of TMs. As expected, males showed higher fecal TM levels than females. Males also showed diurnal fluctuations in their TM levels but we found no differences in the TM levels of C57BL/6J and B6D2F1 hybrid males. Finally, we successfully validated our applied EIA (measuring 17β-hydroxyandrostane) by showing that hCG (human chorionic gonadotropin) administration increased TM levels, whereas castration reduced them. In conclusion, our EIA proved suitable for measuring fecal TMs in mice. Our non-invasive method to assess fecal TMs can be widely used in various research disciplines like animal behavior, reproduction, animal welfare, ecology, conservation, and biomedicine

Exchange Rate Pass-Through in a Competitive Model of Pricing-to-Market

This paper extends the Mussa and Rosen (1978) model of quality pricing under perfect competition. Exporters sell goods of different qualities to consumers who have heterogeneous preferences for quality. Production is subject to decreasing returns to scale and, therefore, supply and the toughness of competition react to cost changes brought about by exchange rate fluctuations. First, we predict that exchange rate shocks are imperfectly passed through into prices. Second, prices of low-quality goods are more sensitive to exchange rate shocks than prices of high-quality goods. Third, in response to an exchange rate appreciation, the composition of exports shifts toward higher quality and more expensive goods. We test these predictions using highly disaggregated price and quantity U.S. import data and find only weak empirical evidence in support of our theory

Impacts on the Embodied Energy of Rammed Earth Façades During Production and Construction Stages

Rammed earth is a technique for constructing sustainable buildings, with a low energy demand encompassing the whole life cycle of buildings. Soil from the excavation can be compressed on-site to build a façade. Due to its hygroscopic and thermal properties, rammed earth façades stabilise indoor comfort, which potentially supports the minimisation of use of mechanical systems. In order to reduce the energy demand for the entire life cycle of buildings, the embodied energy must be taken into account. Databases, such as the German Ökobaudat, provide data for a life cycle assessment (LCA). For rammed earth, aggregated data at product stages A1-A3 are provided, but transport, which is included in stages A2 and A4, and construction processes at stage A5 are barely documented. Thus, the energy demand for transport, production, and construction of two rammed earth façades was measured. The results are documented in this paper, which provides a more thorough understanding of the entire building process and helps to expand the database. One can conclude that transportation has the largest impact on the embodied energy of rammed earth façades, so it’s essential to use local material. Furthermore, the results illustrate the implication of transport on a life cycle assessment, as well as for other constructions

Powerskin Conference: Proceedings

The “third skin†of human beings – the building envelope – has a long history of development with a major impact on architecture. As an interface between inside and outside, facades not only determine aspects such as performance and energy efficiency, they also determine the aesthetics of buildings and cities; to the extend that they can create cultural identity. The invention of the curtain wall made facades independent from the building structure, but it remained an important – yet passive – element.  Powerskin Conference: Proceedings, January 19th 2017– Munich &nbsp

Green Facades and Living Walls—A Review Establishing the Classification of Construction Types and Mapping the Benefits

The green facades and living walls of vertical greenery systems (VGS) are gaining increasing importance as sustainable building design elements because they can improve the environmental impact of a building. The field could benefit from a comprehensive mapping out of VGS types, an improved classification and nomenclature system, and from linking the benefits to a specific construction type. Therefore, this research reviews existing VGS construction types and links associated benefits to them, clearly differentiating empirical from descriptive supporting data. The study adopted a scoping research review used for mapping a specific research field. A systematic literature review based on keywords identified 13 VGS construction types—four types of green facades, nine types of living walls, and ten benefits. Thermal performance, as a benefit of VGS, is the most broadly empirically explored benefit. Yet, further qualitative studies, including human perception of thermal comfort are needed. Improvements in air quality, reduction of noise, positive effects on hydrology, and visual benefits need much further empirical testing, as the current supporting data is mostly descriptive and based on the similarities with green roofs. The educational benefits of VGS has no supporting empirical evidence, while the social benefits have only been empirically evaluated through one identified study. Future progress of the field depends on the adoption of a clear VGS nomenclature system and further qualitative and quantitative empirical testing of VGS benefits, which should be clearly linked to a specific VGS construction type so that cross-comparison of studies is enabled