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Exchange Rate Pass-Through And Monetary Policy

  • Frederic S. Mishkin

This paper discusses what recent economic research tells us about exchange rate pass-through and what this suggests for the control of monetary policy. It first focuses on exchange rate pass-through from a macroeconomic perspective and then examines the microeconomic evidence. In light of this evidence, it then discusses the implications of exchange rate movements on the conduct of monetary policy.

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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 13889.

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Date of creation: May 2008
Date of revision:
Publication status: published as Frederic S. Mishkin, 2008. "Exchange rate pass-through and monetary policy: a speech at the Norges Bank Conference on Monetary Policy, Oslo, Norway, March 7, 2008," Speech, Board of Governors of the Federal Reserve System (U.S.).
Handle: RePEc:nbr:nberwo:13889
Contact details of provider: Postal: National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.
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