Inflation targeting and exchange rate pass-through

Economia Aplicada

Reginaldo Pinto Nogueira Junior¹ 

关键词: inflation targeting;    pass-through;    emerging markets;    metas inflacionárias;    pass-through;    economias emergentes;   

DOI  :  10.1590/S1413-80502007000200002

来源: SciELO

【 摘 要 】

The paper presents evidence on exchange rate pass-through (ERPT) for a set of emerging markets before and after the adoption of Inflation Targeting (IT). Some developed economies are also analysed for comparison. We use an ARDL model to estimate the short-run and the long-run effects of depreciations on consumer and producer prices. The results show that ERPT has declined after IT for both price indexes. Nonetheless, this reduction does not mean that ERPT is no longer existent, especially over the long-run.

【 授权许可】

CC BY-NC   
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