Hidden Bibliographic Details
| Other authors / contributors: | International Monetary Fund. European Department, issuing body.
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| ISBN: | 1451891202
9781451891201
1281089095
9781281089090
9781451843156
1451843151
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| ISSN: | 2227-8885
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| Notes: | Includes bibliographical references (pages 23-26).
Restrictions unspecified
Electronic reproduction. [S.l.] : HathiTrust Digital Library, 2010.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
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| Summary: | Exchange rate pass-through in a set of euro area prices along the pricing chain is examined. Using a vector autoregression (VAR) approach, the empirics analyze the joint time-series behavior of the euro exchange rate and a system of euro-area prices in response to an exchange rate shock. The impulse-response functions from the VAR estimates are used to identify-in a 'new open economy macroeconomics model'-those key behavioral parameters that best replicate the pattern of exchange rate pass-through in the euro area. Area-wide prices are found to display incomplete pass-through, consistent with euro currency-pricing and pricing-to-market behavior. The results are compared to those for the other major industrial economies, and suggest that, as with the United States, "expenditure-switching" effects on the current account still operate but are generally small.
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| Other form: | Print version: Faruqee, Hamid. Exchange rate pass-through in the euro area. Washington, D.C. : International Monetary Fund, ©2004
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| Standard no.: | 10.5089/9781451891201.001
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