“…This approach has been used to analyse the exchange rate pass-through for various countries (Karaoğlu and Demirel, 2021;Munir, 2022), economic activity shocks for the G7 economies (Laxton et al, 1995), and current account balance shocks on inflation in Turkey (Yildirim and Vicil, 2022). All these studies found significant evidence of both short-and long-run asymmetries.…”