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projection techniques to obtain state dependent impulse responses in a panel of 28 emerging markets. We find significant evidence …
Persistent link: https://www.econbiz.de/10012998797
projection techniques to obtain state dependent impulse responses in a panel of 28 emerging markets. We find significant evidence …
Persistent link: https://www.econbiz.de/10012983957
Using both regression- and VAR-based estimates, the paper finds that the exchange rate pass-through to import prices … import price pass-through, it would not imply a lower export price pass-through. Recent explanations of this puzzle have …
Persistent link: https://www.econbiz.de/10013098580
Does the South African rand's relatively large volatility affect inflation? To shed some light on this question, a standard estimation technique of exchange rate pass-through to inflation is extended to incorporate exchange rate volatility. Estimated results suggest that higher exchange rate...
Persistent link: https://www.econbiz.de/10012843500
Motivated by stylized facts pointing to a dominant role of imported inputs in transmitting external price shocks to domestic prices, this paper zooms in to study the pass-through of imported input costs to domestic producer prices. Our approach constructs effective input price indices from...
Persistent link: https://www.econbiz.de/10012996091
This paper investigates the determinants of fiscal policy behavior and its time-varying volatility, using panel data …
Persistent link: https://www.econbiz.de/10013055674
We examine the stability and strength of the relationship between exchange rates and trade over time using three alternative approaches, mitigating the endogeneity of the relation. We find that both exchange rate pass-through and the price elasticity of trade volumes are largely stable over...
Persistent link: https://www.econbiz.de/10012956490
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 exchange rate regime in 2012, nonfood prices not only directly influence headline...
Persistent link: https://www.econbiz.de/10012956501
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 regime. The paper conjectures, in line with the literature, that this outcome is...
Persistent link: https://www.econbiz.de/10012912492
Pacific Islands countries are vulnerable to commodity price shocks, and this poses challenges to monetary policy. The high degree of exchange rate pass-through to headline inflation and the weak monetary transmission mechanism in PICs suggest a greater efficacy of exchange rate changes in...
Persistent link: https://www.econbiz.de/10013098628