Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/142001 
Erscheinungsjahr: 
2015
Schriftenreihe/Nr.: 
MNB Occasional Papers No. 121
Verlag: 
Magyar Nemzeti Bank, Budapest
Zusammenfassung: 
Exchange rate movements influence prices through numerous channels. In this paper we provide empirical evidence on pass-through of exchange rate movements into consumer prices. The pass-through depends on a number of factors, and its size may vary over time. In recent years, prices have responded less to a depreciation of the exchange rate than would have been warranted by estimates conducted before the crisis. Before the crisis a 1 per cent change in the exchange rate resulted in a 0.3 per cent change in price level after two years. Currently, the pass-through is estimated to be in the range of 0.1-0.2 per cent over a two-year horizon. Both cyclical (subdued demand) and structural (decline in level of inflation) factors have contributed to the weakening of the relationship.
Schlagwörter: 
exchange rate pass-through
inflation
time series models
JEL: 
C32
E31
F31
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
1.69 MB





Publikationen in EconStor sind urheberrechtlich geschützt.