ZEU - Zentrum für internationale Entwicklungs- und Umweltforschung

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Auflistung ZEU - Zentrum für internationale Entwicklungs- und Umweltforschung nach Autor:in "Fedoseeva, Svetlana"

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    Do German exporters PTM? : Searching for right answers in sugar confectionery exports
    (2013) Fedoseeva, Svetlana
    Pricing-to-market (PTM) evidence in German sugar confectionery exports is examined, combining the original fixed-effects model of Knetter (1989) and an errorcorrection specification (ECM) at three frequency levels, to assess how neglecting time-series properties and the choice of frequency affect the outcomes. In order to ensure validity of unit values as price proxies, the type of competition with every destination market is evaluated, proving price-driven competition with Canada, Sweden, the UK and the US, but not with Switzerland. Results show that fixed-effect model findings of PTM might be spurious, if time-series properties of the data are not considered. German exporters seem to exploit their market power and adjust their markups to protect market shares in strategically important expanding destinations. Local currency price stabilization (LCPS) was found for Canada and the UK, while LCPS for the exports to US in fixed-effects model turned out to be an erroneous result, as cointegration was rejected. Data of the higher frequency was suggested to be preferable for PTM studies, once measurement error due to heterogeneity is minimized. Finally, using marginal costs estimates from a fixed-effects model as cost proxies in the ECM improves the quality of the model and reveals a higher degree of PTM.
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    Is there a difference? Exchange rate nonlinearities in European agri-food (versus total) exports to the US
    (2014) Fedoseeva, Svetlana
    Each time the Euro starts appreciating, a discussion on how painful this might hit European exporters arises in media, making politician and economists work out the ways to mitigate possible shocks. Still, in his recent study, Verheyen (2013a) using aggregated European exports to the US as an example, showed, that in the long run exports react on exchange rate changes in a nonlinear way. Particularly his analysis revealed, that a positive impact on trade during the Euro depreciation seem to outweigh the losses caused by its appreciations. In this paper, I test whether this holds true for agri-food exports as well. To address this question, I apply a partial sum decomposition approach and the NARDL framework of Shin et al. (2013) to aggregated agri-food exports as well as to total exports of eleven European countries to the US, which is currently the major partner of the EU in agri-food trade. The outcomes suggest, that the exchange rate nonlinearities are even more pronounced in agri-food than in total exports. Despite the ongoing discussion regarding the nocent effect of a strong national currency on exports, the estimation results suggest that European agri-food exporters have found their way to cope with such negative effects. European exporters seem to benefit more from Euro depreciation, than its appreciation harm them. I interpret this finding as a sign of pricing strategies application (e.g., pricing-to-market) to the European agri-food exports.