PUBLICACIONES

Is the Exchange Rate Pass-Through into Import Prices Declining? Evidence from Chile

ISI: Is the Exchange Rate Pass-Through into Import Prices Declining? Evidence from Chile

JORGE SELAIVE C., PATRICIO JARAMILLO., R. ALVAREZ.

2012 - Emerging Markets Finance & Trade - Vol. 48, Nº 1, Pp 100 - 116

Abstract

Several empirical studies have found that the exchange rate pass-through (ERPT) into import prices is not complete and declined during the 1990s. In this paper we carry out a reexamination of these findings using a unique database of disaggregated import prices both at the border and wholesale levels for Chile. Our results do not support previous conclusions. We find a complete and nondeclining ERPT in the long run at both pricing levels of Chilean imports. We extend previous evidence by showing that, in the short run, wholesale prices seem to be less sensitive to exchange rate variations. In addition, we find weak evidence of asymmetric pass-through from appreciations versus depreciations for the aggregate import indexes in the short run and the long run.

Keywords

exchange rate pass-through, import prices, local currency pricing, monetary policy, price-to-market

¿Quieres seguir leyendo? [Accede a la publicación completa]

MKTG BEST premia la trayectoria del profesor Pedro Hidalgo

El académico de la Universidad de Chile ha desempeñado importantes funciones en la Facultad de Economía y Negocios, donde ha contribuido a la formación de varias generac...

Marketing Estrategia Clave para agregar valor a tu negocio

Marketing Estrategia Clave para agregar valor a tu negocio 0 shares Marketing Estrategia Clave para agregar valor a tu negocio EDUCACION 2 semanas atrás Equipo de Prensa OBSE...

Todos los Derechos © 2014 | Departamento de Administración - Facultad de Economía y Negocios - Universidad de Chile - Diagonal Paraguay 257, torre 26, oficina 1101, piso 11, Santiago, Chile.