Choudhri, Ehsan U.; Hakura, Dalia S. - In: Journal of International Money and Finance 51 (2015) C, pp. 1-25
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...