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Erscheinungsjahr: 
2011
Schriftenreihe/Nr.: 
Working Papers No. 2011-12
Verlag: 
Banco de México, Ciudad de México
Zusammenfassung (übersetzt): 
This paper analyzes the pass-through of exchange rate to different price indexes in Mexico. The analysis is based on a vector autoregressive model (VAR) using monthly data from January 1997 to December 2010. The pass-through effects are calculated by means of accumulated impulse response functions to a recursively identified exchange rate shock. The results show that the exchange rate pass-through to import prices is complete, but it declines along the distribution chain in such a way that the impact on consumer prices is below 20 percent. Moreover, we find that the exchange rate pass-through seems to have decreased substantially from 2001 onwards, which coincides with the adoption of an inflation targeting regime by Banco de Mexico.
Schlagwörter: 
exchange rate pass-through
import price
consumer price
distribution chain
inflation
JEL: 
E31
F31
F41
Dokumentart: 
Working Paper
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