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Swiss Journal of Economics and Statistics

Table 3 Imports and pass-through heterogeneity

From: Heterogeneity in the exchange rate pass-through to consumer prices: the Swiss franc appreciation of 2015

 

(1) OLS

(2) OLS

(3) OLS

(4) OLS

(5) OLS

ln(tradability)

0.022\(^{**}\)

  

0.020

\(-\)0.009

 

(0.009)

  

(0.028)

(0.027)

Import share

 

0.195\(^{***}\)

 

0.313\(^{**}\)

0.300\(^{**}\)

  

(0.059)

 

(0.099)

(0.100)

EUR-invoicing share

  

0.050

0.195

 
   

(0.146)

(0.129)

 

ln(tradability) \(\times\)

    

\(-\)0.015

Import share

    

(0.030)

Constant

0.143\(^{***}\)

0.111\(^{***}\)

0.168\(^{***}\)

\(-\)0.047

0.113\(^{***}\)

 

(0.029)

(0.030)

(0.048)

(0.075)

(0.034)

Number of goods

78

73

12

12

73

R-squared

0.07

0.18

0.01

0.58

0.19

Adjusted R-squared

0.05

0.16

\(-\)0.09

0.42

0.15

  1. Linear regressions of the absolute pass-through on international tradability and the import share, with robust standard errors. Tradability is taken in log due to its exponential scale. Tradability data is taken from the BLS estimates of Johnson (2017), the import shares data from the SFSO, and the EUR-invoicing share for retail goods from Auer et al. (2022). Not all product categories can be matched, so the number of observations is lower than 85. \(p^{*}\)<0.1; \(p^{**}\)<0.05; \(p^{***}\)<0.01
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