Showing 1 - 10 of 1,847
In this paper we employ a Panel Bayesian VAR model for a homogeneous group of Eastern European countries, namely …% confidence bands associated to the Panel model. Except for Poland, both PPI and CPI respond less to nominal exchange rate shocks …
Persistent link: https://www.econbiz.de/10011207312
This paper surveys recent advances in empirical studies of the monetary transmission mechanism (MTM), with special attention to Central and Eastern Europe. In particular, while laying out the functioning of the separate channels in the MTM, it explores possible interrelations between different...
Persistent link: https://www.econbiz.de/10009476887
economic openness, it also requires that import prices respond to exchange rate changes. In this case domestic producers find …
Persistent link: https://www.econbiz.de/10010986403
small open economies with floating exchange rates. Evidence indicates that pass-through is faster to import prices than to … costs and trade margins are important price components of imported consumer goods, adjustment of import prices and consumer … exchange rate pass-through to be quite rapid to import prices and fairly slow to consumer prices. We show the importance of the …
Persistent link: https://www.econbiz.de/10010988452
Relying on a novel dataset of detailed micro-data on import prices, this paper explores the close link that exists … between nominal import price rigidity and the extent of exchange rate pass-through (ERPT). We show that previous evidence in … import price reaction function is distorted by the presence of nominal rigidity. Indeed, the linearity assumption is veri …
Persistent link: https://www.econbiz.de/10010992418
We empirically investigate how various economic factors affect the changes in the pricing policies of exporters, in particular changes in the exchange rate pass-through. Assuming exporters set prices following either a high or a low pass-through pricing policy, and assuming that the transition...
Persistent link: https://www.econbiz.de/10010992931
It has been widely documented that the exchange rate pass-through to domestic inflation has decreased significantly in most of the industrialized world. As microeconomic factors cannot completely explain such a widespread phenomenon, a macroeconomic explanation linked to the inflationary...
Persistent link: https://www.econbiz.de/10010994358
models. In this paper, we estimate a pricing-to-market model for Norwegian import prices on textiles and wearing apparels … foreign prices thereby account for inflationary differences and varying import shares and price level differences (known as …
Persistent link: https://www.econbiz.de/10010994399
model are confirmed in micro data on US import prices: while the rate at which a firm reacts to changes in its own cost is U …
Persistent link: https://www.econbiz.de/10010849938
This paper examines the presence of nonlinear mechanism in the exchange rate pass-through (ERPT) to CPI inflation for 12 euro area (EA) countries. Using logistic smooth transition models, we explore the existence of nonlinearity with respect to economic activity along the business cycle. Our...
Persistent link: https://www.econbiz.de/10010854369