@article{Goldberg:295141,
      recid = {295141},
      author = {Goldberg, Linda S and Tille, Cédric},
      title = {Micro, macro, and strategic forces in international trade  invoicing},
      publisher = {Hong Kong Institute for Monetary Research},
      address = {Hong Kong. 2010},
      number = {BOOK},
      series = {HKIMR Working Paper ; No.08/2010},
      pages = {41 p. : ill.},
      year = {2010},
      abstract = {The use of different currencies in the invoicing of  international trade transactions plays a major role in the  international transmission of economic fluctuations.  Existing studies argue that an exporter's invoicing choice  reflects structural aspects of her industry, such as market  share and the price-sensitivity of demand, the hedging of  marginal costs, due for instance to the use of imported  inputs, and macroeconomic volatility. We use a new highly  disaggregated dataset to assess the roles of the various  invoicing determinants. We find support for the factors  identified in the literature, and document a new feature,  in the form of a link between shipments size and invoicing.  Specifically, larger transactions are more likely to be  invoiced in the importer's currency. We offer a potential  theoretical explanation for the empirical link between  transaction size and invoicing by allowing invoicing to be  set through a bargaining between exporters and importers, a  feature that is absent from existing models despite its  empirical relevance.},
      url = {http://repository.graduateinstitute.ch/record/295141},
}