03451nam 2200601Ia 450 991046225670332120200520144314.01-4755-5240-81-4755-8061-4(CKB)2670000000278882(EBL)1606986(SSID)ssj0000952643(PQKBManifestationID)11603817(PQKBTitleCode)TC0000952643(PQKBWorkID)10902373(PQKB)10116979(MiAaPQ)EBC1606986(Au-PeEL)EBL1606986(CaPaEBR)ebr10627103(OCoLC)870245021(EXLCZ)99267000000027888220121206d2012 uy 0engur|n|---|||||txtccrThe exchange rate pass-through to import and export prices[electronic resource] the role of nominal rigidities and currency choice /prepared by Ehsan U. Choudhri and Dahlia S. HakuraWashington, D.C. International Monetary Fundc20121 online resource (35 p.)IMF working paper ;WP/12/226"September 2012."1-4755-8980-8 1-4755-1023-3 Includes bibliographical references.Cover; Contents; I. Introduction; II. Empirical Evidence; III. The Model; A. Basic Setup; B. Key Relations; IV. Quantitative Analysis; A. Key Determinants of the Pass-Through to Trade Prices; B. Currency of Invoicing and the Pass-Through; V. Concluding Remarks; References; Tables; 1. OLS Regressions: Impact of Exchange Rate Changes on Trade Prices, 1979-2010; 2. VAR: First Quarter Trade Price Response to a One Percent Change in the Exchange Rate, 1979-2010; 3. Pass-Through Elasticities for Different Shocks4. Wage-Price Stickiness, Exchange Rate Persistence, Inflation Reaction and the Pass-Through5. Stochastic Simulations; 6. Invoicing Currency Shares and the Pass-Through; Figures; 1. Regression and VAR Estimates of the Pass-Through; 2. Impulse Response Functions; 3. PCP Shares and the Pass-Through; Appendix Tables; 1. VAR: First Quarter Trade Price Response to a One Percent Change in the Exchange Rate 1985-1997; 2. VAR: First Quarter Trade Price Response to a One Percent Change in the Exchange Rate 1998-2010Using both regression- and VAR-based estimates, the paper finds that the exchange rate pass-through to import prices for a large number of countries is incomplete and larger than the pass-through to export prices. Previous studies have reported similar results, which give rise to the puzzle that while local currency pricing is needed to account for incomplete import price pass-through, it would not imply a lower export price pass-through. Recent explanations of this puzzle have emphasized markup adjustment in response to exchange rate changes. This paper suggests an alternative explanation basIMF Working PapersExchange rate pass-throughPricesElectronic books.Exchange rate pass-through.Prices.Choudhri Ehsan U866031Hakura Dahlia S866032MiAaPQMiAaPQMiAaPQBOOK9910462256703321The exchange rate pass-through to import and export prices1932877UNINA