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180614 ||| eng |
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|a 9781475560312
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|a Carriere-Swallow, Yan
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| 245 |
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|a Monetary Policy Credibility and Exchange Rate Pass-Through
|c Yan Carriere-Swallow, Bertrand Gruss, Nicolas Magud, Fabian Valencia
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| 260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2016
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| 300 |
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|a 33 pages
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| 651 |
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4 |
|a United States
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| 653 |
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|a Inflation
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| 653 |
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|a Import prices
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| 653 |
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|a Exchange rate pass-through
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| 653 |
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|a Deflation
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| 653 |
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|a Open Economy Macroeconomics
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| 653 |
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|a Currency
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| 653 |
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|a Consumer prices
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| 653 |
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|a Nominal effective exchange rate
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| 653 |
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|a Price Level
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| 653 |
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|a Foreign Exchange
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| 653 |
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|a Prices
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| 653 |
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|a Macroeconomics
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| 653 |
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|a Monetary Policy
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| 653 |
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|a Imports
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| 653 |
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|a Foreign exchange
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| 700 |
1 |
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|a Gruss, Bertrand
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| 700 |
1 |
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|a Magud, Nicolas
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| 700 |
1 |
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|a Valencia, Fabian
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| 041 |
0 |
7 |
|a eng
|2 ISO 639-2
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| 989 |
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|b IMF
|a International Monetary Fund
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| 490 |
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|a IMF Working Papers
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| 028 |
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|a 10.5089/9781475560312.001
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| 856 |
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|u https://elibrary.imf.org/view/journals/001/2016/240/001.2016.issue-240-en.xml?cid=44458-com-dsp-marc
|x Verlag
|3 Volltext
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| 082 |
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|a 330
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| 520 |
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|a A long-standing conjecture in macroeconomics is that recent declines in exchange rate pass-through are in part due to improved monetary policy performance. In a large sample of emerging and advanced economies, we find evidence of a strong link between exchange rate pass-through to consumer prices and the monetary policy regime’s performance in delivering price stability. Using input-output tables, we decompose exchange rate pass-through to consumer prices into a component that reflects the adjustment of imported goods at the border, and another that captures the response of all other prices. We find that price stability and central bank credibility have reduced the second component
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