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How high is exchange rate pass-through in India? Has it changed over time?

Author

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  • Amit Ghosh
  • Ramkishen S. Rajan

Abstract

Concerns about relatively high degrees of exchange rate pass-through in a number of emerging economies have contributed to a fear of floating. Despite the obvious policy relevance of this issue there is hardly any existing literature that has examined aggregate CPI pass-through for India, which has been liberalizing its economy since 1991. This paper estimates exchange rate pass-through (ERPT) at the aggregate level into India's CPI for the period 1980Q1 - 2005Q3. We also analyze whether exchange rate pass-through in India has changed over time, particular since 1991, which was the beginning of the country's economic liberalization program.

Suggested Citation

  • Amit Ghosh & Ramkishen S. Rajan, 2007. "How high is exchange rate pass-through in India? Has it changed over time?," The Journal of International Trade & Economic Development, Taylor & Francis Journals, vol. 16(3), pages 373-382.
  • Handle: RePEc:taf:jitecd:v:16:y:2007:i:3:p:373-382
    DOI: 10.1080/09638190701526832
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    Citations

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    Cited by:

    1. Yanamandra, Venkataramana, 2015. "Exchange rate changes and inflation in India: What is the extent of exchange rate pass-through to imports?," Economic Analysis and Policy, Elsevier, vol. 47(C), pages 57-68.
    2. Bakhshoodeh, M., 2010. "Impacts of world prices transmission to domestic rice markets in rural Iran," Food Policy, Elsevier, vol. 35(1), pages 12-19, February.
    3. Ghosh, Amit & Rajan, Ramkishen S., 2009. "Exchange rate pass-through in Korea and Thailand: Trends and determinants," Japan and the World Economy, Elsevier, vol. 21(1), pages 55-70, January.
    4. Ila Patnaik & Ajay Shah & Rudrani Bhattacharya, 2011. "Monetary Policy Transmission in an Emerging Market Setting," IMF Working Papers 11/5, International Monetary Fund.
    5. Mallick, Sushanta & Marques, Helena, 2010. "Data frequency and exchange rate pass-through: Evidence from India's exports," International Review of Economics & Finance, Elsevier, vol. 19(1), pages 13-22, January.
    6. repec:eee:reveco:v:51:y:2017:i:c:p:245-257 is not listed on IDEAS

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