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Inflation targeting, exchange rate pass-through and "fear of floating"

Nogueira, Reginaldo Pinto (contributor) - 2006

The paper presents evidence on exchange rate pass-through and the "Fear of Floating" hypothesis before and after Inflation Targeting for a set of developed and emerging market economies. We use a structural VAR model to estimate the effect of depreciations on prices. The results support the view...

Persistent link: https://www.econbiz.de/10003368050

Exchange Rate Pass-Through to Domestic Prices : Does the Inflationary Environment Matter?

Choudhri, Ehsan U.; Hakura, Dalia - 2021

The paper tests a hypothesis suggested by Taylor (2000) that a low inflationary environment leads to a low exchange rate pass-through to domestic prices. To test this hypothesis, the paper derives a pass-through relation based on new open economy macroeconomic models. A large database that...

Persistent link: https://www.econbiz.de/10013317764

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

Kabundi, Alain - 2018

, in line with the literature, that this outcome is largely due to improved monetary policy credibility. To do this, it … first documents the factors that explain monetary policy credibility. Using the standard deviation of individual inflation … forecasts as a measure of monetary policy credibility, its shows that the latter is negatively affected by the level of …

Persistent link: https://www.econbiz.de/10012912492

New paradigms in monetary theory and policy?

Balling, Morten (ed.); Orphanides, Athanasios (ed.) - New Paradigms in Money and Finance? <Veranstaltung> …; … - 2012

On 11-12 May 2011, SUERF and the Belgian Financial Forum, in association with the Brussels Finance Institute and the Centre for European Policy Studies (CEPS) organized the 29th SUERF Colloquium "New Paradigms in Money and Finance?". All the papers in the present SUERF Study are based on...

Persistent link: https://www.econbiz.de/10011711450

Exchange rate pass-through in Russia

Ponomarev, Jurij; Trunin, Pavel V.; Uljukaev, Aleksej V. - 2014

The article provides estimates of short-run and medium-run exchange rate pass-through into domestic prices in Russia during the period of 2000–2012 using vector error correction model. Exchange rate pass-through asymmetry estimates, its assessments on different sub-periods and exchange rate...

Persistent link: https://www.econbiz.de/10011398366

Understanding the time variation in exchange rate pass-through to import prices

Cunningham, Rose M.; Friedrich, Christian; Hess, Kristina; … - 2017

In this paper, we analyze the presence of time variation in the pass-through from the nominal effective exchange rate to import prices for 24 advanced economies over the period 1995-2015. In line with earlier studies in the literature, we find substantial heterogeneity in the level of exchange...

Persistent link: https://www.econbiz.de/10011747729

New Paradigms in Monetary Theory and Policy?

Balling, Morten; Llewellyn, David T.; Orphanides, Athanasios - 2012

On 11-12 May 2011, SUERF and the Belgian Financial Forum, in association with the Brussels Finance Institute and the Centre for European Policy Studies (CEPS) organized the 29th SUERF Colloquium “New Paradigms in Money and Finance?” All the papers in the present SUERF Study are based on...

Persistent link: https://www.econbiz.de/10011689952

Conditional exchange rate pass-through : evidence from Sweden

Corbo, Vesna; Di Casola, Paola - 2018

The pass-through from exchange rate changes to inflation differs depending on the underlying shock. This paper quantifies the conditional exchange rate pass-through (CERPT) to prices, i.e. the change in prices relative to that in the exchange rate following a certain exogenous shock, with a...

Persistent link: https://www.econbiz.de/10011806006

Exchange rate pass-through in the euro area and EU countries

Ortega, Eva; Osbat, Chiara - 2020

Aggregate exchange rate pass-through (ERPT) to import and consumer prices in the EU is currently lower than it was in the 1990s and is non-linear. Low estimated aggregate ERPT to consumer prices does not at all mean that exchange rate movements do not have an impact on inflation, as aggregate...

Persistent link: https://www.econbiz.de/10012206373

Drivers of consumer prices and exchange rates in small open economies

Corbo, Vesna; Di Casola, Paola - 2020

We study the fluctuations of exchange rates and consumer prices in two small open economies, Sweden and Canada, using a structural Bayesian VAR. Four domestic and two global shocks are identified through zero and sign restrictions. For both economies, we find that the main driver of consumer...

Persistent link: https://www.econbiz.de/10012176017

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