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Persistent link: https://www.econbiz.de/10011946447
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
This paper studies monetary policy rules in a small open economy with Inflation Targeting, incomplete pass-through and …
Persistent link: https://www.econbiz.de/10011523924
economies, we find that the main driver of consumer price inflation is the global demand shock. A negative global demand shock …
Persistent link: https://www.econbiz.de/10012176017
In this paper, we analyze the presence of time variation in the pass-through from the nominal effective exchange rate to import prices for 24 advanced economies over the period 1995-2015. In line with earlier studies in the literature, we find substantial heterogeneity in the level of exchange...
Persistent link: https://www.econbiz.de/10011747729
We look at a panel of Latin American countries from 1970 and 2016 to enquire how exchange rate pass-through has changed over time, and whether this owes to monetary or real shocks hitting the economy. We estimate conventional pass-through measures, both short and long run; then we obtain rolling...
Persistent link: https://www.econbiz.de/10012020009
authors examine the exchange rate influence on the inflation in Switzerland, separately for the pre-crisis and the …-through into inflation. Despite the effect's moderate influence, the decline was not immediate. The authors additionally analysed … intervention than from the precrisis period. The exchange rate effect on inflation was thus in a better accordance with theory …
Persistent link: https://www.econbiz.de/10011751859
. There is strong evidence of a positive and significant association between the pass-through and the average inflation rate … across countries and periods. The inflation rate, moreover, dominates other macroeconomic variables in explaining cross …
Persistent link: https://www.econbiz.de/10013317764
Determining the exchange rate pass-through on inflation is a necessity for central banks as well as for firms and … short and long-term impact of an exchange rate shock on inflation along the distribution chain in the presence of … have showed that the accumulated PT on inflation of import prices rises from 20% in the first month of the exchange rate …
Persistent link: https://www.econbiz.de/10011554700
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