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100   $a20121206d2012      uy             0
101 0 $aeng
135   $aur|n|---|||||
181   $ctxt
182   $cc
183   $acr
200 14$aThe exchange rate pass-through to import and export prices$b[electronic resource] $ethe role of nominal rigidities and currency choice /$fprepared by Ehsan U. Choudhri and Dahlia S. Hakura
210   $aWashington, D.C. $cInternational Monetary Fund$dc2012
215   $a1 online resource (35 p.)
225  0$aIMF working paper ;$vWP/12/226
300   $a"September 2012."
311   $a1-4755-8980-8 
311   $a1-4755-1023-3 
320   $aIncludes bibliographical references.
327   $aCover; 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 Shocks
327   $a4. 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 1998-2010
330   $aUsing both regression- and VAR-based estimates, the paper finds that the exchange rate pass-through to import prices for a large number of countries is incomplete and larger than the pass-through to export prices. Previous studies have reported similar results, which give rise to the puzzle that while local currency pricing is needed to account for incomplete import price pass-through, it would not imply a lower export price pass-through. Recent explanations of this puzzle have emphasized markup adjustment in response to exchange rate changes. This paper suggests an alternative explanation bas
410  0$aIMF Working Papers
606   $aExchange rate pass-through
606   $aPrices
608   $aElectronic books.
615  0$aExchange rate pass-through.
615  0$aPrices.
700   $aChoudhri$b Ehsan U$0866031
701   $aHakura$b Dahlia S$0866032
801  0$bMiAaPQ
801  1$bMiAaPQ
801  2$bMiAaPQ
906   $aBOOK
912   $a9910462256703321
996   $aThe exchange rate pass-through to import and export prices$91932877
997   $aUNINA