This study examines the effects of changes in the exchange rate of the U.S. dollar on the trade balances of three oil-exporting countries, Iran, Venezuela, and Saudi Arabia. An exchange rate pass-through model is applied to allow changes in the exchange rate of the dollar to affect prices of...

Unter der Annahme, daß das reale Bruttosozialprodukt in den OECD-Ländern 1990 um 2,75% und 1991 um 3% wächst, und der Dollarkurs im Prognosezeitraum weitgehend unverändert bleibt, wird sich das Preisniveau auf den internationalen Rohstoffmärkten insgesamt (d.h. einschl. Energieträger) 1990...

Die nachgewiesenen Erdöl- und Erdgasreserven in den arabischen OPEC-Staaten und im Iran haben in den Jahren von 1980 bis 1990 beträchtlich zugenommen. Der Anteil dieser Regionen an den Weltvorkommen von Erdöl lag 1990 bereits bei knapp 70%. Davon lag der Anteil Saudi-Arabiens mit knapp 30% an...

This paper explores the role of trade integrationor opennessfor monetary policy transmission in a medium-scale New Keynesian model. Allowing for strategic complementarities in price-setting, we highlight a new dimension of the exchange rate channel by which monetary policy directly impacts...

The degree of exchange rate pass-through to domestic goods prices has important implications for monetary policy in small open economies with floating exchange rates. Evidence indicates that pass-through is faster to import prices than to consumer prices. Price setting behaviour in the...

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 favor of incomplete and low value of ERPT in the...

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...

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...

Studies on the relationship between exchange rates and traded goods prices typically find evidence of incomplete pass-through, usually explained by pricing-to-market behaviour. Although economic theory predicts that incomplete pass-through may also be linked to the presence of non-tariff...