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Gravity Meets Pricing to Market: What a Combined-Method Approach Tells Us on German Beer Exports and Pricing

Jahrbücher für Nationalökonomie und Statistik, 2017-10, Vol.237 (4), p.295-328 [Peer Reviewed Journal]

Copyright Walter de Gruyter GmbH Oct 2017 ;ISSN: 0021-4027 ;EISSN: 2366-049X ;DOI: 10.1515/jbnst-2017-0106

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  • Title:
    Gravity Meets Pricing to Market: What a Combined-Method Approach Tells Us on German Beer Exports and Pricing
  • Author: Dreyer, Heiko ; Fedoseeva, Svetlana ; Herrmann, Roland
  • Subjects: Beer ; EU membership ; export behaviour ; Exports ; F10 ; F14 ; German beer ; Gravity ; gravity model ; Imports ; Incomplete pass-through ; International trade ; L66 ; Markets ; Money ; Pricing policies ; pricing to market ; Stabilization
  • Is Part Of: Jahrbücher für Nationalökonomie und Statistik, 2017-10, Vol.237 (4), p.295-328
  • Description: Gravity and pricing to market (PTM) models have been used to elaborate determinants of bilateral trade and export pricing for different countries and branches. Typically, only one of the two methods was chosen. We show in a stepwise approach how a combination of both methods can reveal novel results on the determinants of exports and export pricing behaviour. For the case of German beer exports, we show that structural differences exist between markets on which exporters apply either PTM or non-PTM strategies. German beer exporters apply PTM strategies, in particular local-currency stabilization, on those markets where imports are very sensitive to exchange-rate changes. Non-PTM strategies, i. e. full exchange-rate transmission, occur on export markets with insensitive reactions. Apart from PTM strategies, German beer exports are strongly dependent on policy variables such as the introduction of the Euro and the partner country’s membership in the EU.
  • Publisher: Stuttgart: De Gruyter
  • Language: English;German
  • Identifier: ISSN: 0021-4027
    EISSN: 2366-049X
    DOI: 10.1515/jbnst-2017-0106
  • Source: De Gruyter Journals Open Access
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