Manufacturers selling in foreign markets often do not completely pass on the effects of fluctuations in exchange rates to the trade prices of their products. Our paper addresses this puzzle and studies the effects of the international distribution channel on exchange rate pass-through. We...

Manufacturers selling in foreign markets often do not completely pass on the effects of fluctuations in exchange rates to the prices of their products. Our paper addresses this puzzle and studies the effects of the international distribution channel on exchange rate pass-through. We develop an...

The challenge of international term structure models is to simultaneously account for the properties of interest rate term structures and foreign exchange rates within an arbitrage-free framework. We extend the quadratic term structure models proposed in Leippold and Wu (2002) to multiple...