Exchange rate pass-through: The case of China

Wang, Jinbin; Li, Nan

doi:10.1007/s11459-010-0102-4

Cited by 9 publications

(4 citation statements)

References 25 publications

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“…For EMDEs, the median value averaged +0.15 since 1970, but declined to +0.08 over 1998-2017. Among larger EMDEs, the average ERPT in China is estimated at +0.08 since 1998, somewhat below previously reported estimates (Jiang and Kim, 2013;Shu and Su, 2009;Wang and Li, 2010). For India, the average ERPT is estimated at +0.14, broadly in line with previous studies (Bhattacharya, Patnaik, and Shah, 2008;Forbes, Hjortsoe, and Nenova, 2017;Kapur and Behera, 2012).…”

Section: In ‡Ation and Exchange Rate Pass-throughsupporting

confidence: 78%

Inflation and Exchange Rate Pass-Through

Stocker

Yilmazkuday

2019

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This paper investigates exchange rate pass-through into consumer prices by considering the nature of the shock triggering currency movements. By individually estimating structural factor-augmented vector autoregression models for 55 countries, monetary policy shocks are shown to be associated with higher exchange rate passthrough measures compared to other domestic shocks, while global shocks have widely di¤erent e¤ects across countries. Pass-through measures tend to be lower in countries that combine ‡exible exchange rate regimes and credible in ‡ation targets, where central bank independence can greatly facilitate the task of stabilizing in ‡ation by using the exchange rate as a bu¤er against external shocks. It is implied that exchange rate pass-through should be investigated by considering the nature of the shock that triggers currency movements and country characteristics that a¤ect the response of prices.

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Section: In ‡Ation and Exchange Rate Pass-throughsupporting

confidence: 78%

Inflation and Exchange Rate Pass-Through

Stocker

Yilmazkuday

2019

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“…Among larger EMDEs, the average ERPTR in China is estimated at +0.08 since 1998, somewhat below previously reported estimates (Jiang and Kim 2013;Shu and Su 2009;Wang and Li 2010). For India, the average ERPTR is estimated at +0.14, broadly in line with previous studies (Bhattacharya, Patnaik, and Shah 2008;Kapur and Behera 2012).…”

Section: Inflation and Exchange Rate Pass-throughsupporting

confidence: 77%

Inflation and exchange rate pass-through

Stocker

Yilmazkuday

2020

Journal of International Money and Finance

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The Policy Research Working Paper Series disseminates the findings of work in progress to encourage the exchange of ideas about development issues. An objective of the series is to get the findings out quickly, even if the presentations are less than fully polished. The papers carry the names of the authors and should be cited accordingly. The findings, interpretations, and conclusions expressed in this paper are entirely those of the authors. They do not necessarily represent the views of the International Bank for Reconstruction and Development/World Bank and its affiliated organizations, or those of the Executive Directors of the World Bank or the governments they represent.

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“…They further find that (i) the ERPT has been largely stable during the period and (ii) the degree and speed of the pass-through diminishes along the distribution chain. A similar magnitude of the ERPT is also estimated by Wang and Li (2010).…”

Section: 2country-specific Empirical Studiessupporting

confidence: 71%

Gelişmekte olan Ülkelerde Döviz Kuru Geçişkenliği üzerine Bir Literatür Taraması

Tunç

2017

Bulletin of Economic Theory and Analysis

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This article reviews the literature on exchange rate pass-through in emerging markets with a special focus on the burgeoning empirical research. The literature has overwhelmingly agreed on the recent decline in the pass through in low inflationary environment after the adoption of inflation targeting in many countries. However, the empirical evidences also suggest varying degrees of the pass-through depending on the size and direction of exchange rate changes. Finally, researches on the exchange rate pass-through on disaggregated price indices or the differential pass-through due to the source of exchange rate changes are becoming promising research strands for the estimation of the pass through.

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Exchange rate pass-through: The case of China

Abstract: exchange rate pass-through, cost mark-up, CPI, F41, G12, G31,

Cited by 9 publications

References 25 publications

Inflation and Exchange Rate Pass-Through

Inflation and Exchange Rate Pass-Through

Inflation and exchange rate pass-through

Gelişmekte olan Ülkelerde Döviz Kuru Geçişkenliği üzerine Bir Literatür Taraması

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