Exchange Rate Pass-Through in Romania
Electronic Access:
Free Download. Use the free Adobe Acrobat Reader to view this PDF file
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.
Series:
Working Paper No. 2003/130
Subject:
Consumer prices Exchange rate pass-through Exchange rates Foreign exchange Inflation Prices Producer prices
English
Publication Date:
June 1, 2003
ISBN/ISSN:
9781451855210/1018-5941
Stock No:
WPIEA1302003
Pages:
30
Please address any questions about this title to publications@imf.org