Showing 1 - 10 of 1,315
This paper provides an empirical study of the asymmetrical spillovers of the euro-US dollar exchange rate on inflation in the euro zone. We divide the euro zone members in two groups of countries: "core" (closely related to Germany) and "periphery", testing if the euro-US dollar exchange rate is...
Persistent link: https://www.econbiz.de/10011108149
Responsiveness of exchange rates to external price shocks as well as their ability to serve as a traditional vehicle for a transmission of these shocks to domestic prices is affected by exchange rate arrangement adopted by monetary authorities. As a result, exchange rate volatility determines...
Persistent link: https://www.econbiz.de/10011110778
This paper examines the presence of nonlinear mechanisms in the exchange rate pass-through (ERPT) to CPI inflation for 12 euro area (EA) countries. Using smooth transition models, we explore the existence of non-linearities with respect to three macroeconomic factors, namely inflation rate,...
Persistent link: https://www.econbiz.de/10011258090
This paper develops a Structural Vector Autoregression (SVAR) model for the Ghanaian economy to estimate the pass-through effects of exchange rate changes to consumer prices. The model incorporates the special features of the Ghanaian economy, especially its dependence on foreign aid and primary...
Persistent link: https://www.econbiz.de/10008869291
The forward rate is often used as the market's prediction of the future spot exchange rate even though the hypothesis that the forward rate is an unbiased predictor of the future spot rate has been rejected in a large number of empirical studies using data for different countries and time...
Persistent link: https://www.econbiz.de/10005621817
This paper examines the behaviour of exchange rate pass-through to domestic prices in India after the reforms initiated in the early 1990s. Unlike observed in several countries, it finds a rise in exchange rate pass-through to domestic prices until recent years. Besides economic factors...
Persistent link: https://www.econbiz.de/10011108958
This paper estimates a coefficient of pass through for Costa Rica and tries to determine the importance of some factors that had been pointed out by several empiric studies as probable determinants (GDP gap, real exchange rate deviation from equilibrium, economy openness, and inflationary lag)....
Persistent link: https://www.econbiz.de/10011112024
In this paper I analyse the pass-through effect in four big areas using different approaches. On the one hand, I inspect this issue comparing the REER (real effective exchange rate) with the WARP (weighted average relative price) in the US, the UK, Japan and the Euro area. On the other hand, I...
Persistent link: https://www.econbiz.de/10005029691
The paper undertakes a comparative empirical analysis on the effects of shocks on domestic prices in four Asian countries before and after the financial crisis of 1997. We apply two different estimation methodologies, namely a structural VAR and a single equation approach. The results of the two...
Persistent link: https://www.econbiz.de/10005789312
The paper investigates the degree of exchange rate pass-through to import and consumer prices in Nigeria between 1986Q1 and 2007Q4 on the basis of vector error correction methodology. Results reveal that exchange rate pass-through in Nigeria is low, slightly higher in the import than in the...
Persistent link: https://www.econbiz.de/10008642708