LEADER 03369nam 2200649 450 001 9910463600903321 005 20170822102951.0 010 $a1-4623-1442-2 010 $a1-4527-0972-6 010 $a9786612841644 010 $a1-4518-7071-X 010 $a1-282-84164-5 035 $a(CKB)3170000000055106 035 $a(EBL)1608015 035 $a(SSID)ssj0000942985 035 $a(PQKBManifestationID)11484246 035 $a(PQKBTitleCode)TC0000942985 035 $a(PQKBWorkID)10975140 035 $a(PQKB)10582318 035 $a(OCoLC)762684955 035 $a(MiAaPQ)EBC1608015 035 $a(EXLCZ)993170000000055106 100 $a20140227h20082008 uy 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aNew Keynesian exchange rate pass-through /$fWoon Gyu Choi and David Cook ; authorized for distribution by Nadeem Haque 210 1$a[Washington, District of Columbia] :$cInternational Monetary Fund,$d2008. 210 4$dİ2008 215 $a1 online resource (27 p.) 225 1 $aIMF Working Papers 225 0$aIMF working paper ;$vWP/08/213 300 $aDescription based upon print version of record. 311 $a1-4519-1524-1 320 $aIncludes bibliographical references. 327 $aContents; I. Introduction; II. The Model; III. The Data; Figures; 1. The Trade-Weighted Index of the Relative Prices; 2. U.S. Import Price Inflation and Foreign PPI Inflation; IV. Estimated Results; A. Defining Exchange Rate Pass-through; B. Benchmark Regressions; Tables; 1. Estimation Results of the Pass-Through Effect Model; C. Estimating Pass-Though Effects for a Sub-sample Period; D. Robustness Checks: Alternative Specification; 2. Estimating the Pass-through Effect Model: Alternative Specifications; E. Pass-through Effect Model with a Mix of LCP and PCP 327 $a3. Estimating the Pass-through Effect Model: A Mix of LCP and PCPF. Regional Models and Country Specific Exports; 4. Regional Pass-through Effect Model: A Mix of LCP and PCP; V. Conclusion; References; Appendix 330 $aUsing the theory of optimal local currency pricing, this paper constructs a structural equation to estimate the rate at which foreign producer prices pass through the local currency prices of imported goods in the U.S. This can be viewed as measuring exchange rate pass-through, in line with price stickiness in the New Keynesian Phillips curve literature. We estimate the structural equation using the generalized methods of moments for consistent estimates of exchange rate pass-through. We find that a model with a mix of local currency pricing and producer currency pricing fits the data best. Th 410 0$aIMF Working Papers 606 $aForeign exchange rates$zUnited States$xEconometric models 606 $aPhillips curve$xEconometric models 608 $aElectronic books. 615 0$aForeign exchange rates$xEconometric models. 615 0$aPhillips curve$xEconometric models. 676 $a332.450973 700 $aChoi$b Woon Gyu$0869318 701 $aCook$b David$0373905 701 $aHaque$b Nadeem$0869319 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910463600903321 996 $aNew Keynesian exchange rate pass-through$91940758 997 $aUNINA