Using both regression- and VAR-based estimates, the paper finds that the exchange rate pass-through to import prices … import price pass-through, it would not imply a lower export price pass-through. Recent explanations of this puzzle have …

We analyze exchange rate pass-through into import prices for a large group of 33 emerging and developed economies from …-run pricing power. This asymmetry is stronger in economies which are more import dependent but is moderated by freedom to trade … market, a key macroeconomic implication is that import-dependent economies, in particular, can benefit from trade …