Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

Quantitative methods (economics) --- Money market. Capital market --- Exchange rate pass-through --- Imports --- 330.05 --- 332.456 --- 330.115 --- 336.74 --- International trade --- Foreign exchange rate pass-through --- Pass-through of exchange rates --- Prices --- Econometric models --- Prices&delete& --- Kwantitatieve methoden (economie) --- Geld. Monetaire politiek --- Theses

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

This paper focuses on the role of the pass-through of the exchange rate and policydeterminants in driving inflation. Using linear and nonlinear frameworks, the paper finds: (i) after the switch to a floating exchange rate regime in 2012, nonfood prices not only directly influence headline inflation, but also have an significant impact on food inflation via second round effects; (ii) the pass-through of the exchange rate to headline inflation has jumped from zero to 11 percent under the floating regime, after controlling for other factors; (iii) the improved significance of T-bill rates in shaping inflation flags its importance in Malawi’s monetary framework although the monetary transmission mechanism needs further strengthening; (iv) the increased impact of broad money underscores the necessity for fiscal discipline and central bank independence.

Inflation (Finance) --- Exchange rate pass-through. --- Exchange rate pass-through --- Foreign exchange rate pass-through --- Pass-through of exchange rates --- Prices --- Finance --- Natural rate of unemployment --- Econometric models. --- Foreign Exchange --- Inflation --- Money and Monetary Policy --- Price Level --- Deflation --- Monetary Policy --- Monetary Policy, Central Banking, and the Supply of Money and Credit: General --- Macroeconomics --- Currency --- Foreign exchange --- Monetary economics --- Exchange rate arrangements --- Monetary base --- Exchange rates --- Floating exchange rates --- Money --- Money supply --- Malawi

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

This paper estimates exchange rate pass-through to consumer prices in emerging markets focusing on non-linearities and asymmetries. We document non-linearities and asymmetries in the transmission of exchange rate fluctuations to prices using local projection techniques to obtain state dependent impulse responses in a panel of 28 emerging markets. We find significant evidence of non-linearities during episodes of depreciation greater than 10 and 20 percent. More specifically, we find that, after one month, the exchange rate pass-through coefficient is equal to 18 and 25 percent respectively, compared to a coefficient of 6 percent in the linear case. We also investigate the role of temporary vs. permanent shocks and the adoption of an inflation targeting regime in the transmission from exchange rate movements to prices. We perform a set of robustness checks, addressing the presence of outliers and potential endogeneity concerns.

Exchange rate pass-through --- Foreign exchange rate pass-through --- Pass-through of exchange rates --- Prices --- Econometric models. --- Foreign Exchange --- Inflation --- Investments: General --- Money and Monetary Policy --- 'Panel Data Models --- Spatio-temporal Models' --- Price Level --- Deflation --- Investment --- Capital --- Intangible Capital --- Capacity --- Monetary Policy --- Macroeconomics --- Currency --- Foreign exchange --- Monetary economics --- Depreciation --- Exchange rates --- Inflation targeting --- National accounts --- Monetary policy --- Saving and investment --- United States --- Panel Data Models --- Spatio-temporal Models

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

Using both regression- and VAR-based estimates, the paper finds that the exchange rate pass-through to import prices for a large number of countries is incomplete and larger than the pass-through to export prices. Previous studies have reported similar results, which give rise to the puzzle that while local currency pricing is needed to account for incomplete import price pass-through, it would not imply a lower export price pass-through. Recent explanations of this puzzle have emphasized markup adjustment in response to exchange rate changes. This paper suggests an alternative explanation based on the presence of both producer and local currency pricing. Using a dynamic general equilibrium model, the paper shows that a mix of producer and local currency pricing can explain the pass-through evidence even with a constant markup. The model can also explain the observed exchange rate and inflation variability as well as the fact that the regression and VAR estimates tend to be similar.

Finance --- Business & Economics --- International Finance --- Exchange rate pass-through. --- Prices. --- Commercial products --- Commodity prices --- Justum pretium --- Price theory --- Foreign exchange rate pass-through --- Pass-through of exchange rates --- Prices --- Consumption (Economics) --- Cost --- Costs, Industrial --- Money --- Cost and standard of living --- Supply and demand --- Value --- Wages --- Willingness to pay --- Foreign exchange rates --- Imports --- Exports --- Econometric models --- E-books --- International trade --- Foreign Exchange --- Macroeconomics --- Money and Monetary Policy --- Price Level --- Inflation --- Deflation --- International Policy Coordination and Transmission --- Monetary Policy --- Open Economy Macroeconomics --- Monetary Systems --- Standards --- Regimes --- Government and the Monetary System --- Payment Systems --- Currency --- Foreign exchange --- Monetary economics --- Export prices --- Import prices --- Exchange rates --- Exchange rate pass-through --- Currencies --- United States

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

International finance --- Monetary policy --- Foreign exchange rates --- Speculation --- -336.74 --- 339.743 --- -Foreign exchange rates --- -Speculation --- -politique monetaire --- taux de change --- marche international des capitaux --- politique de taux de change --- eua --- AA / International- internationaal --- 333.613 --- 333.610 --- Money --- United States --- -332.4973 --- Bucket-shops --- Commercial corners --- Corners, Commercial --- Finance --- Gambling --- Commodity exchanges --- Contracts, Aleatory --- Investments --- Stock exchanges --- Exchange rates --- Fixed exchange rates --- Flexible exchange rates --- Floating exchange rates --- Fluctuating exchange rates --- Foreign exchange --- Rates of exchange --- Monetary management --- Economic policy --- Currency boards --- Money supply --- Geld. Geldwezen. Monetaire sector. --- Wisselkoersen. Wisselkoerspariteiten. Dubbele wisselkoers. Devaluatie. Revaluatie. Zwevende wisselkoers. Muntslang --- monetair beleid --- wisselkoers --- internationale kapitaalmarkt --- wisselkoersbeleid --- vsa --- Activiteiten van de nationale en internationale markten. Beursnoteringen van aandelen en obligaties. --- Effectenbeurzen: algemeenheden. --- Rates --- 336.74 --- 339.743 Wisselkoersen. Wisselkoerspariteiten. Dubbele wisselkoers. Devaluatie. Revaluatie. Zwevende wisselkoers. Muntslang --- 336.74 Geld. Geldwezen. Monetaire sector. --- 332.4973 --- politique monetaire --- Effectenbeurzen: algemeenheden --- Activiteiten van de nationale en internationale markten. Beursnoteringen van aandelen en obligaties --- Geld. Geldwezen. Monetaire sector --- Monetary policy. --- Monetary policy - United States --- Foreign exchange rates - United States --- Speculation - - United States --- Foreign exchange rate