Adolfson, Malin (contributor) - 2001 - [Elektronische Ressource]
exchange rate pass-through. The results indicate that social welfare can only be marginally improved by including an explicit … exchange-rate term in the delegated objective function, irrespective of the degree of pass-through. An implicit response to the … exchange rate, through Consumer Price Index (CPI) inflation targeting is, however, beneficial. Welfare can, moreover, be …