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Exchange Rate Pass-Through in the Euro Area

Exchange Rate Pass-Through in the Euro Area »

Source: Exchange Rate Pass-Through in the Euro Area : The Role of Asymmetric Pricing Behavior

Volume/Issue: 2004/14

Series: IMF Working Papers

Author(s): Hamid Faruqee

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2004

ISBN: 9781451843156

Keywords: New Open Economy Macroeconomic Models, exchange rate, exchange rate pass, import prices, exchange rate shock, export prices, Open Economy Macroeconomics,

Exchange rate pass-through in a set of euro area prices along the pricing chain is examined. Using a vector autoregression (VAR) approach, the empirics analyze the joint time-series behavior of the euro exchange ra...

The Volatility of the Relative Price of Commodities In Terms of Manufactures Across Exchange Regimes

The Volatility of the Relative Price of Commodities In Terms of Manufactures Across Exchange Regimes »

Source: The Volatility of the Relative Price of Commodities In Terms of Manufactures Across Exchange Regimes : A Theoretical Model

Volume/Issue: 1998/163

Series: IMF Working Papers

Author(s): Hong Liang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 1998

ISBN: 9781451980639

Keywords: Relative commodity price, exchange regimes, exchange rate pass-through, exchange rate, exchange rates, exchange rate regime, exchange rate regimes, commodity prices

This paper investigates the relationship between the nominal exchange rate regime and the volatility of relative commodity prices. The analysis shows that the relationship depends upon both the market structure and...

Explaining the Exchange Rate Pass-Through in Different Prices

Explaining the Exchange Rate Pass-Through in Different Prices »

Source: Explaining the Exchange Rate Pass-Through in Different Prices

Volume/Issue: 2002/224

Series: IMF Working Papers

Author(s): Hamid Faruqee , Dalia Hakura , and Ehsan Choudhri

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2002

ISBN: 9781451875331

Keywords: New open economy macroeconomic models, exchange rate, exchange rate shock, exchange rate pass, open economy, import prices, Open Economy Macroeconomics,

This paper examines the performance of different new open economy macroeconomic models in explaining the exchange rate pass-through in a wide range of prices. Quantitative versions of different models are used to d...

Outside the Band

Outside the Band »

Source: Outside the Band : Depreciation and Inflation Dynamics in Chile

Volume/Issue: 2016/129

Series: IMF Working Papers

Author(s): Esther Perez Ruiz

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 July 2016

ISBN: 9781498350976

Keywords: traded goods inflation, non-traded goods inflation, exchange rate pass-through, indexation, monetary policy, Chile

This paper examines inflation dynamics in Chile during the last peso depreciation episode 2013-15. The evidence is for substantial pass-through effects to inflation, given the large and persistent depreciation move...

Understanding Inflation in Malawi

Understanding Inflation in Malawi »

Source: Understanding Inflation in Malawi : A Quantitative Investigation

Volume/Issue: 2017/48

Series: IMF Working Papers

Author(s): Dong Frank Wu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 March 2017

ISBN: 9781475585988

Keywords: Sub-Saharan Africa, Malawi, Foreign exchange, Inflation, Exchange Rate, Pass-through, Regime Switch, Monetary Policy (Targets, Instruments, and Effects)

This paper focuses on the role of the pass-through of the exchange rate and policydeterminants in driving inflation. Using linear and nonlinear frameworks, the paper finds: (i) after the switch to a floating exchan...

Monetary Policy Credibility and Exchange Rate Pass-Through°

Monetary Policy Credibility and Exchange Rate Pass-Through° »

Source: Monetary Policy Credibility and Exchange Rate Pass-Through

Volume/Issue: 2016/240

Series: IMF Working Papers

Author(s): Yan Carriere-Swallow , Bertrand Gruss , Nicolas Magud , and Fabian Valencia

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 December 2016

ISBN: 9781475560312

Keywords: Price stabilization, Monetary policy, Exchange rate pass-through, Emerging markets, Consumer prices, Developed countries, Cross country analysis, monetary policy credibility

A long-standing conjecture in macroeconomics is that recent declines in exchange rate pass-through are in part due to improved monetary policy performance. In a large sample of emerging and advanced economies, we f...

The Exchange Rate Pass -Through to Import and Export Prices

The Exchange Rate Pass -Through to Import and Export Prices »

Source: The Exchange Rate Pass -Through to Import and Export Prices : The Role of Nominal Rigidities and Currency Choice

Volume/Issue: 2012/226

Series: IMF Working Papers

Author(s): Ehsan Choudhri , and Dalia Hakura

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2012

ISBN: 9781475510232

Keywords: import and export prices, nominal rigidities, currency choice, exchange rate, export price, import price, exchange rate pass, export prices, International Policy Coordination and Transmission, Open Economy Macroeconomics,

Using both regression- and VAR-based estimates, the paper finds that the exchange rate pass-through to import prices for a large number of countries is incomplete and larger than the pass-through to export prices....

Global Trade and the Dollar1

Global Trade and the Dollar1 »

Source: Global Trade and the Dollar

Volume/Issue: 2017/239

Series: IMF Working Papers

Author(s): Emine Boz , Gita Gopinath , and Mikkel Plagborg-Møller

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 November 2017

ISBN: 9781484327975

Keywords: Bilateral trade, Foreign exchange, Bayesian semiparametrics, dominant currency, exchange rate passthrough, hierarchical Bayes, panel data, trade elasticity, US dollar, exchange rate pass-through

We document that the U.S. dollar exchange rate drives global trade prices and volumes. Using a newly constructed data set of bilateral price and volume indices for more than 2,500 country pairs, we establish the fo...

Monetary Policy Credibility and Exchange Rate Pass-Through in South Africa

Monetary Policy Credibility and Exchange Rate Pass-Through in South Africa »

Source: Monetary Policy Credibility and Exchange Rate Pass-Through in South Africa

Volume/Issue: 2018/173

Series: IMF Working Papers

Author(s): Alain Kabundi , and Montfort Mlachila

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 July 2018

ISBN: 9781484371671

Keywords: South Africa, Sub-Saharan Africa, Central banks and their policies, Exchange rate pass-through, monetary policy credibility, Monetary Policy (Targets, Instruments, and Effects)

This paper investigates the key factors that explain the documented decline in the exchange rate pass-through in South Africa over the past two decades, which coincides with the adoption of the inflation-targeting...

Limits of Floating Exchange Rates

Limits of Floating Exchange Rates »

Source: Limits of Floating Exchange Rates : the Role of Foreign Currency Debt and Import Structure

Volume/Issue: 2011/42

Series: IMF Working Papers

Author(s): Pascal Towbin , and Sebastian Weber

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2011

ISBN: 9781455219001

Keywords: Exchange rate regime, balance sheet effect, pass-through, interacted panel VAR, external shock, exchange rate, currency debt, foreign currency debt, exchange rate regimes, Prices

A traditional argument in favor of flexible exchange rates is that they insulate output better from real shocks, because the exchange rate can adjust and stabilize demand for domestic goods through expenditure swit...