Exchange Rate Pass-Through And Monetary Policy

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Frederic S. Mishkin (2008)
  • Subject:
    • jel: jel:F41 | jel:E52

This paper discusses what recent economic research tells us about exchange rate pass-through and what this suggests for the control of monetary policy. It first focuses on exchange rate pass-through from a macroeconomic perspective and then examines the microeconomic evidence. In light of this evidence, it then discusses the implications of exchange rate movements on the conduct of monetary policy.
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