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Autor:innen: 
Erscheinungsjahr: 
2000
Schriftenreihe/Nr.: 
Staff Report No. 111
Verlag: 
Federal Reserve Bank of New York, New York, NY
Zusammenfassung: 
This paper examines the impact of exchange rates and import prices on the domestic producer price index and consumer price index in selected industrialized economies. The empirical model is a vector autoregression incorporating a distribution chain of pricing. When the model is estimated over the post-Bretton Woods era, impulse responses indicate that exchange rates have a modest effect on domestic price inflation while import prices have a stronger effect. Pass-through is larger in countries with a larger import share and more persistent exchange rates and import prices. Over 1996-98, these external factors have had a sizable disinflationary effect in many of the countries, but not in the United States. Estimating the model using post-1982 data has little effect on these conclusions
Schlagwörter: 
pass-through, in‡ation, exchange rates, import prices
JEL: 
E31
F41
F31
Dokumentart: 
Working Paper

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