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Shocks versus structure : explaining differences in exchange rate pass-through across countries and time

Forbes, Kristin; Hjortsoe, Ida; Nenova, Tsvetelina - 2017

We show that exchange rate pass-through to consumer prices varies not only across countries, but also over time. Previous literature has highlighted the role of an economy's "structure" - such as its inflation volatility, inflation rate, use of foreign currency invoicing, and openness - in...

Persistent link: https://www.econbiz.de/10011671018

Exchange rates and prices : evidence from the 2015 Swiss Franc appreciation

Auer, Raphael A.; Burstein, Ariel T.; Lein-Rupprecht, … - 2018

The removal of the lower bound on the EUR/CHF exchange rate in January 2015 provides a unique setting to study the implications of a large and sudden appreciation in an otherwise stable macroeconomic environment. Using transaction-level data on non-durable goods purchases by Swiss consumers, we...

Persistent link: https://www.econbiz.de/10011900831

The Price Puzzle Revisited : Can the Cost Channel Explain a Rise in Inflation after a Monetary Policy Shock?

Henzel, Steffen - 2013

This paper explores whether the cost channel solves the price puzzle. We set-up a New Keynesian DSGE model and estimate it for the euro area by adopting a minimum distance approach. Our findings suggest that - under certain parameter restrictions which are not rejected by the data - the cost...

Persistent link: https://www.econbiz.de/10012753889

Local currency pricing, foreign monetary shocks and exchange rate policy

Senay, Özge; Sutherland, Alan - In: Open economies review 26 (2015) 4, pp. 633-661

Persistent link: https://www.econbiz.de/10011481577

Real exchange rate convergence : the roles of price stickiness and monetary policy

Engel, Charles - In: Journal of monetary economics 103 (2019), pp. 21-32

Persistent link: https://www.econbiz.de/10012265052

Towards an Explanation of Cross-Country Asymmetries in Monetary Transmission

Georgiadis, Georgios - 2012

-country asymmetries in monetary transmission. To do so, I determine how closely the impulse responses to a monetary policy shock obtained … find that up to 70% (50%) of the cross-country asymmetries in the responses of output (prices) to a monetary policy shock …

Persistent link: https://www.econbiz.de/10013108291

Towards an Explanation of Cross-Country Asymmetries in Monetary Transmission

Georgiadis, Georgios - 2016

Persistent link: https://www.econbiz.de/10012988771

The Importance of Global Shocks for National Policy Makers - Rising Challenges for Central Banks

Belke, Ansgar Hubertus - 2009

We analyze the importance of global shocks for the global economy and national policy makers. More specifically, we investigate whether monetary policy has become less effective in the wake of financial globalization. We also examine whether there is increasing uncertainty for central banks due...

Persistent link: https://www.econbiz.de/10013155344

Modelling determinants of inflation in CESEE countries : global vector autoregressive approach

Jakši, Saša - In: Národohospodářský obzor : časopis věnovaný … 22 (2022) 2, pp. 137-169

Persistent link: https://www.econbiz.de/10013270502

The Effect of Commodity Price Shocks on Underlying Inflation : The Role of Central Bank Credibility

Davis, Scott - 2015

This paper seeks to document and explain the effect of a commodity price shock on underlying core inflation, and how … across many countries there was a break in the response of core inflation to a commodity price shock. In an earlier period, a … shock to commodity prices would lead to a large and significant increase in core inflation, but in later periods, the effect …

Persistent link: https://www.econbiz.de/10013036232

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