Currency Choice and Exchange Rate Pass-through

A central assumption of open economy macro models with nominal rigidities relates to the currency in which goods are priced, whether there is so-called producer currency pricing or local currency pricing. This has important implications for exchange rate pass-through and optimal exchange rate policy带有名义刚性的开放经济宏观模型的核心假设，聚焦于商品定价所使用的货币类型，即所谓的生产者货币定价（Producer Currency Pricing）与当地货币定价（Local Currency Pricing）。该假设对汇率传递（Exchange Rate Pass-Through）效应以及最优汇率政策均具有重要意义。