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Author/Editor:
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Gueorguiev, Nikolay
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Publication Date:
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June 01, 2003
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Electronic Access:
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Free Full text
(PDF file size is 573KB).
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF.
The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate
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Summary:
Quantifying the size and speed of the exchange rate pass-through to prices is important for formulating monetary policy decisions in Romania. Using a recursive VAR model, this paper finds that (i) the pass-through is large and relatively fast, accounting for a sizable fraction of inflation; (ii) the pass-through from the exchange rate against the U.S. dollar is larger, if not faster, than the one from alternative exchange rate benchmarks; and (iii) the pass-through to producer prices seems to have moderated recently, while the same cannot be said yet for consumer prices.
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Order a print copy
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Series:
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Working Paper No. 03/130
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Subject(s):
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Exchange rates | Romania | Inflation | Monetary policy | Economic models
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Author's Keyword(s):
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Romania | pass-through | VAR | inflation | distribution chain |
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English
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Publication Date:
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June 01, 2003
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ISBN/ISSN:
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1934-7073
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Format:
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Paper
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Stock No:
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WPIEA1302003
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Pages:
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29
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Price:
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US$15.00 )
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Please address any questions about this title to
publications@imf.org
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