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Exchange Rate Pass-Through, Domestic Competition, and Inflation: Evidence from the 2005/08 Revaluation of the Renminbi
Auer, Raphael - C.E.P.R. Discussion Papers - 2015
pronounced increase of aggregate US producer price inflation. …
Persistent link: https://www.econbiz.de/10011145441
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Exchange Rate Pass-Through to Consumer Prices in South Africa: Evidence from Micro-Data
Aron, Janine; Creamer, Kenneth; Muellbauer, John; … - C.E.P.R. Discussion Papers - 2013
A sizeable literature examines exchange rate pass-through to disaggregated import prices but very few micro-studies focus on consumer prices. This paper explores exchange rate pass-through to consumer prices in South Africa during 2002-2007, using a unique data set of highly disaggregated data...
Persistent link: https://www.econbiz.de/10011084277
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Granger Causality of the Inflation-Growth Mirror in Accession Countries
Gillman, Max; Nakov, Anton - C.E.P.R. Discussion Papers - 2005
The Paper presents a model in which the exogenous money supply causes changes in the inflation rate and the output … growth rate. While inflation and growth rate changes occur simultaneously, the inflation acts as a tax on the return to human … the income velocity of money that can break the otherwise stable relation between money, inflation, and output growth …
Persistent link: https://www.econbiz.de/10005791637
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The Central Banker as a Risk Manager: Quantifying and Forecasting Inflation Risks
Kilian, Lutz; Manganelli, Simone - C.E.P.R. Discussion Papers - 2003
situation poses to price stability. We propose to regard the central banker as a risk manager who aims to contain inflation …
Persistent link: https://www.econbiz.de/10005123620
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UK Phillips Curves and Monetary Policy
Haldane, Andrew; Quah, Danny - C.E.P.R. Discussion Papers - 1999
unemployment-inflation tradeoff might indicate not something to be exploited but instead only policy-makers' correctly …
Persistent link: https://www.econbiz.de/10005067633
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The Time-Varying Systematic Risk of Carry Trade Strategies
Christiansen, Charlotte; Ranaldo, Angelo; Söderlind, Paul - C.E.P.R. Discussion Papers - 2009
This paper suggests a factor model for carry trade strategies where the regression coefficients are allowed to depend on market volatility and liquidity. Empirical results on daily data from 1995 to 2008 show that a typical carry trade strategy has much higher exposure to the stock market and...
Persistent link: https://www.econbiz.de/10005034753
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Why do Consumer Prices React Less than Import Prices to Exchange Rates?
Bacchetta, Philippe; van Wincoop, Eric - C.E.P.R. Discussion Papers - 2003
It is well known that the extent of pass-through of exchange rate changes to consumer prices is much lower than to import prices. One explanation is local distribution costs. Here we consider an alternative, complementary explanation based on the optimal pricing strategies of firms. We consider...
Persistent link: https://www.econbiz.de/10005498013
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Importers, Exporters, and Exchange Rate Disconnect
Amiti, Mary; Itskhoki, Oleg; Konings, Jozef - C.E.P.R. Discussion Papers - 2012
Large exporters are simultaneously large importers. In this paper, we show that this pattern is key to understanding low aggregate exchange rate pass-through as well as the variation in pass-through across exporters. First, we develop a theoretical framework that combines variable markups due to...
Persistent link: https://www.econbiz.de/10011083651
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Quality, Trade, and Exchange Rate Pass-Through
Chen, Natalie; Juvenal, Luciana - C.E.P.R. Discussion Papers - 2013
This paper investigates the heterogeneous response of exporters to real exchange rate fluctuations due to product quality. We model theoretically the effects of real exchange rate changes on the optimal price and quantity responses of firms that export multiple products with heterogeneous levels...
Persistent link: https://www.econbiz.de/10011084667
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Optimal Monetary Policy and the Sources of Local-Currency Price Stability
Corsetti, Giancarlo; Dedola, Luca; Leduc, Sylvain - C.E.P.R. Discussion Papers - 2007
stabilization of different CPI components will not generally result into perfect stabilization of headline inflation. National …
Persistent link: https://www.econbiz.de/10005661514