G2TT
来源类型Working Paper
规范类型报告
DOI10.3386/w28520
来源IDWorking Paper 28520
Exchange Rate Pass-Through, Monetary Policy, and Real Exchange Rates: Iceland and the 2008 Crisis
Sebastian Edwards; Luis Cabezas
发表日期2021-03-08
出版年2021
语种英语
摘要We use detailed data for Iceland to examine two often-neglected aspects of the “exchange rate pass-through” problem. First, we investigate whether the pass-through coefficient varies with the degree of “international tradability” of goods. Second, we analyze if the pass-through coefficient depends on the monetary policy framework. We consider 12 disaggregated price indexes in Iceland for 2003-2019, a period that includes Iceland’s banking and currency crisis of 2008. We find that the pass-through declined around the time Iceland reformed its “flexible inflation targeting,” and that the coefficients are significantly higher for tradable than for nontradable goods.
主题Macroeconomics ; Business Cycles ; Monetary Policy ; International Economics ; International Finance ; International Macroeconomics
URLhttps://www.nber.org/papers/w28520
来源智库National Bureau of Economic Research (United States)
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条目标识符http://119.78.100.153/handle/2XGU8XDN/586193
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Sebastian Edwards,Luis Cabezas. Exchange Rate Pass-Through, Monetary Policy, and Real Exchange Rates: Iceland and the 2008 Crisis. 2021.
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