Seminars & Events
APL (Ajiken Power Lunch)
Benefits of Home Currency Invoicing
APL
(Ajiken
Power
Lunch)
is
a
lunchtime
workshop
open
to
public,
including
IDE
staffs,
visiting
research
fellows,
IDEAS
students,
outside
researchers
and
graduate
students.
This
workshop
provides
a
platform
for
presentation
of
any
work
in
progress
where
we
can
discuss
in
either
English
or
Japanese.
Those
who
would
attend
a
seminar
are
asked
to
announce
yourself
to
receptionists
on
your
arrival
at
the
IDE
and
to
obtain
APL
Organizers'
signature
on
your
admission
card
after
the
seminar.
Date&time:
July 6, 2015. (Monday) 15：30-17：30
Venue:
Theme:
Benefits of Home Currency Invoicing
Abstract
We
present
a
model
of
endogenous
choice
of
import
frequency
and
invoice
currency
to
infer
the
benefits
of
home
currency
invoicing.
In
the
model,
those
benefits
are
represented
by
fixed
costs
of
exchange
rate
risk
management
paid
by
importers
when
they
work
with
foreign
currency
invoicing.
Using
a
very
detailed
dataset
on
Thai
imports,
we
show
that
those
benefits
of
average
Thai
importer
range
between
7.3%
(1,500
USD)
of
one-time
shipment
value
in
our
most
conservative
specification
and
17.1%
(3,600
USD).
Those
benefits
become
larger
when
the
share
of
the
export
country
currency
in
daily
global
foreign
exchange
market
turnover
is
lower,
or
the
export
country
is
one
of
the
partners
of
Thailand’s
regional
trade
agreements.
Further,
we
find
that
frequency
of
shipments
is
higher
and
the
value
per
shipment
is
smaller
for
transactions
priced
in
buyers’
currency
than
those
not
priced
in
it.
Our
model
provides
a
rationale
for
these
empirical
findings.
Speaker：
Dr. Taiyo Yoshimi (Associate Professor, Department of Economics, Nanzan University)
Chair:
Languages:
Japanese
Soukknilanh Keola E-mail：Souknilanh_Keola
