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Why Do Consumer Prices React less than Import Prices to Exchange Rates?
Bacchetta, Philippe; van Wincoop, Eric - 2002
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/10011430033
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Exchange-rate pass-through to import prices: nonlinearities and exchange rate and inflationary regimes
Kılıç, Rehim - 2010
/depreciations and inflation by estimating nonlinear time series models. Motivated by theoretical and empirical results in the literature …-through regimes depending upon the magnitude of appreciations of a currency and inflation rates both in the short-run and in the long …
Persistent link: https://www.econbiz.de/10010273645
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Exchange Rate Pass-Through, Domestic Competition, and Inflation: Evidence from the 2005/08 Revaluation of the Renminbi
Auer, Raphael A. - 2014
pronounced increase of aggregate US producer price inflation. …
Persistent link: https://www.econbiz.de/10011430113
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The decline of the exchange rate pass-through in Brazil: Explaining the "fear of floating"
Schönerwald da Silva, Carlos Eduardo; Vernengo, Matías - 2008
periods, and remains low. Whereas pass-through effects where high and close to 1 in the high-inflation period, they seem to … Industrialization (ISI) period of the 1950s and 1960s. Conventional results suggests that low and stable inflation environments lead to … rates in order to control the exchange rate. This paper suggests that 'fear of inflation' provides justification for the …
Persistent link: https://www.econbiz.de/10010288059
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Why Do Countries Float the Way They Float?
Hausmann, Ricardo; Panizza, Ugo; Stein, Ernesto H. - 2000
Countries that are classified as having floating exchange rate systems (or very wide bands) show strikingly different patterns of behavior. They hold very different levels of international reserves and allow very different volatilities in the movements of the exchange rate relative to the...
Persistent link: https://www.econbiz.de/10010327122
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Market Entries and Exits and the Nonlinear Behaviour of the Exchange Rate Pass-Through into Import Prices
Herger, Nils - 2013
). Rather than shifts between low and high inflation, the nonlinearity arises when large swings in the exchange rate trigger … inflation has been low and stable, the ERPT still doubles in value in times of a rapid appreciation of the Swiss Franc. …
Persistent link: https://www.econbiz.de/10011430102
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The Role of the Exchange Rate Stability in a Small and Open Economy: The Case of the Republic of Macedonia
Besimi, Fatmir - 2004
The purpose of this paper is to present the role of the exchange rate stability in a small and open economy, where the case of the Republic of Macedonia is investigated. Also, an accent is given to the role of the expectations of the economic agents for the future movements of the exchange rate,...
Persistent link: https://www.econbiz.de/10011785335
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Macroeconomic factors and antidumping filings: Evidence from four countries
Knetter, Michael M.; Prusa, Thomas J. - 2000
This paper examines the relationship between antidumping filings and macroeconomic factors. We show that real exchange rate fluctuations affect the two criteria for dumping in opposite ways, making the overall effect on filings ambiguous in theory. Interestingly, no such ambiguity is evidenced...
Persistent link: https://www.econbiz.de/10010318345
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Empirical Modelling of Norwegian Import Prices
Bache, Ida Wolden - 2002
In this paper we investigate the formation of Norwegian import prices of manufactures over the period 1970(1)-1998(3), thereby extending the sample period used in the study by Naug and Nymoen (1996). If international goods markets are perfectly integrated and the law of one price holds, then for...
Persistent link: https://www.econbiz.de/10012143589
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Assessing Estimates of the Exchange Rate Pass-Through
Bache, Ida Wolden - 2007
We investigate optimal horizons for targeting inflation in response to different shocks and their properties under … alternative preferences of an inflation-targeting central bank. Our analysis is based on a well specified macroeconometric model … inflation and output. Successful inflation targeting in such cases may require a complex interest rate response. The optimal …
Persistent link: https://www.econbiz.de/10012143677