The exchange rate pass-through to import and export prices : the role of nominal rigidities and currency choice /

"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. Previous studies have reported similar results, which give rise to the puzzle th...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autor principal: Choudhri, Ehsan U. (Autor)
Autor Corporativo: International Monetary Fund. Institute for Capacity Development
Otros Autores: Hakura, Dalia S.
Formato: Electrónico eBook
Idioma:Inglés
Publicado: Washington, D.C. : International Monetary Fund, Institute for Capacity Development, 2012.
Colección:IMF working paper ; WP/12/226.
Temas:
Foreign exchange rates > Econometric models.
Imports > Econometric models.
Exports > Econometric models.
Taux de change > Modèles économétriques.
Importations > Modèles économétriques.
Exportations > Modèles économétriques.
Prix.
prices.
BUSINESS & ECONOMICS > Finance.
Exports > Econometric models
Foreign exchange rates > Econometric models
Imports > Econometric models
Acceso en línea:Texto completo
Descripción
Sumario:"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. Previous studies have reported similar results, which give rise to the puzzle that while local currency pricing is needed to account for incomplete import price pass-through, it would not imply a lower export price passthrough. Recent explanations of this puzzle have emphasized markup adjustment in response to exchange rate changes. This paper suggests an alternative explanation based on the presence of both producer and local currency pricing. Using a dynamic general equilibrium model, the paper shows that a mix of producer and local currency pricing can explain the pass-through evidence even with a constant markup. The model can also explain the observed exchange rate and inflation variability as well as the fact that the regression and VAR estimates tend to be similar."--Abstract
Notas:"September 2012."
Descripción Física:1 online resource (34 pages)
Bibliografía:Includes bibliographical references.
ISBN:9781475589801
1475589808
1475552408
9781475552409
ISSN:2227-8885 ;

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