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Title:Import price dynamics in major advanced economies and heterogeneity in exchange rate pass-through PDF Logo
Authors:Dees, Stephane
Burgert, Matthias
Parent, Nicolas
Issue Date:2008
Series/Report no.:Bank of Canada Working Paper 2008,39
Abstract:This paper aims at showing heterogeneity in the degree of exchange rate pass-through to import prices in major advanced economies at three different levels: 1) across destination markets; 2) across types of exporters (distinguishing developed economy from emerging economy exporters); and 3) over time. Based on monthly data over the period 19912007, the results show first that large destination markets exhibit the lowest degrees of pass-through. The degree of passthrough for goods imported from emerging economies is also significantly lower than for those from developed economies. Regarding the evolution over time, no clear change in pricing behaviours can be identified and particular events, like large exchange rates depreciations during the Asian crisis, seem to influence the degree of pass-through related to imports from emerging economies.
Subjects:Exchange rates
Inflation and prices
JEL:E31
F3
F41
Document Type:Working Paper
Appears in Collections:Bank of Canada Working Papers

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