How much do import price shocks matter for consumer prices?
New Zealand and Australia have recently had large import price increases on the back of currency depreciations. Despite these large import price shocks, consumer prices have not risen as strongly as would be suggested by previously accepted relationships. The recent prolonged period of general US dollar strength has also raised the profile of exchange rate and import price pass-through in a number of other countries.
|Date of creation:||Nov 2001|
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- J. McCarthy, 1999.
"Pass-through of exchange rates and import prices to domestic inflation in some industrialised economies,"
BIS Working Papers
79, Bank for International Settlements.
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Econometric Society, vol. 61(4), pages 783-820, July.
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"Error Correction and Long Run Equilibrium in Continuous Time,"
Cowles Foundation Discussion Papers
882R, Cowles Foundation for Research in Economics, Yale University, revised Jul 1989.
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- Taylor, John B., 2000. "Low inflation, pass-through, and the pricing power of firms," European Economic Review, Elsevier, vol. 44(7), pages 1389-1408, June.
- Jacqueline Dwyer & Kenneth Leong, 2001. "Changes in the determinants of inflation in Australia," BIS Papers chapters, in: Bank for International Settlements (ed.), Empirical studies of structural changes and inflation, volume 3, pages 1-28 Bank for International Settlements.
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