The degree to which domestic prices adjust to exchange rate movements is key to understanding inflation dynamics, and hence to guiding monetary policy. However, the exchange rate pass-through to inflation varies considerably across countries and over time. By estimating structural factor-augmented vector-autoregressive models for 47 countries, this paper brings to light two fundamental factors accounting for these variations: the nature of the shock...
انظر المزيد
تفاصيل
-
2019/3/13
-
ورقة عمل خاصة ببحوث السياسات
-
WPS8780
-
1
-
1
-
2019/3/13
-
Disclosed
-
Inflation and Exchange Rate Pass-Through
-
inflation