Import Prices and Inflation
AbstractUnderstanding the consequences of international developments for domestic inflation is an extremely important question for central banks. But before we claim to have measured the extent of import price pass-through, it is necessary to be clear on exactly what such a number is intended to mean. One can attempt to come up with an answer on the basis of either economic theory or empirical evidence. There are important pitfalls associated with either approach and significant benefits from combining the two.
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Bibliographic InfoArticle provided by International Journal of Central Banking in its journal International Journal of Central Banking.
Volume (Year): 8 (2012)
Issue (Month): 1 (March)
Find related papers by JEL classification:
- E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
- F42 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Policy Coordination and Transmission
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- Lutz Kilian & Robert J. Vigfusson, 2011. "Are the responses of the U.S. economy asymmetric in energy price increases and decreases?," Quantitative Economics, Econometric Society, vol. 2(3), pages 419-453, November.
- Baumeister, Christiane & Kilian, Lutz, 2013. "Do oil price increases cause higher food prices?," CFS Working Paper Series 2013/10, Center for Financial Studies (CFS).
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