Have U.S. import prices become less responsive to changes in the dollar?
AbstractThe failure of the dollar's depreciation to narrow the U.S. trade deficit has driven recent research showing that the transmission of exchange rate changes to import prices has declined sharply in industrial countries. Estimates presented in this study, however, suggest that "pass-through" to U.S. import prices has fallen only modestly, if at all, in the last decade. The authors argue that methodological changes in the collection of import data and the inclusion of commodity prices in pass-through models may have contributed to earlier findings of low pass-through rates.
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Bibliographic InfoArticle provided by Federal Reserve Bank of New York in its journal Current Issues in Economics and Finance.
Volume (Year): 12 (2006)
Issue (Month): Sep ()
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- Jose Manuel Campa & Linda S. Goldberg, 2006. "Pass Through of Exchange Rates to Consumption Prices: What has Changed and Why?," NBER Working Papers 12547, National Bureau of Economic Research, Inc.
- Bussière, Matthieu & Peltonen, Tuomas, 2008.
"Exchange rate pass-through in the global economy – the role of emerging market economies,"
BOFIT Discussion Papers
25/2008, Bank of Finland, Institute for Economies in Transition.
- Bussière, Matthieu & Peltonen, Tuomas A., 2008. "Exchange rate pass-through in the global economy: the role of emerging market economies," Working Paper Series 0951, European Central Bank.
- Jose Manuel Campa & Linda S. Goldberg, 2008.
"Pass-Through of Exchange Rates to Consumption Prices: What Has Changed and Why?,"
in: International Financial Issues in the Pacific Rim: Global Imbalances, Financial Liberalization, and Exchange Rate Policy (NBER-EASE Volume 17), pages 139-176
National Bureau of Economic Research, Inc.
- Campa, Jose M. & Goldberg, Linda S., 2006. "Pass through of exchange rates to consumption prices: What has changed and why?," IESE Research Papers D/653, IESE Business School.
- Jose Manuel Campa & Linda S. Goldberg, 2006. "Pass-through of exchange rates to consumption prices: what has changed and why," Staff Reports 261, Federal Reserve Bank of New York.
- Ceglowski, Janet, 2010. "Exchange rate pass-through to bilateral import prices," Journal of International Money and Finance, Elsevier, vol. 29(8), pages 1637-1651, December.
- Christopher Gust & Sylvain Leduc & Robert Vigfusson, 2006.
"Trade Integration, Competiton, and the Decline in Exchange-rate Pass-through,"
2006 Meeting Papers
165, Society for Economic Dynamics.
- Gust, Christopher & Leduc, Sylvain & Vigfusson, Robert, 2010. "Trade integration, competition, and the decline in exchange-rate pass-through," Journal of Monetary Economics, Elsevier, vol. 57(3), pages 309-324, April.
- Christopher Gust & Sylvain Leduc & Robert J. Vigfusson, 2006. "Trade integration, competition, and the decline in exchange-rate pass-through," International Finance Discussion Papers 864, Board of Governors of the Federal Reserve System (U.S.).
- Etsuro Shioji, 2012. "The Evolution of the Exchange Rate Pass-Through in Japan:A Re-evaluation Based on Time-Varying Parameter VARs," Public Policy Review, Policy Research Institute, Ministry of Finance Japan, vol. 8(1), pages 67-92, June.
- Assaf Razin & Alon Binyamini, 2007. "Flattening of the Short-run Trade-off between Inflation and Domestic Activity: The Analytics of the Effects of Globalization," Kiel Working Papers 1363, Kiel Institute for the World Economy.
- Ceglowski, Janet, 2010. "Has pass-through to export prices risen? Evidence for Japan," Journal of the Japanese and International Economies, Elsevier, vol. 24(1), pages 86-98, March.
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