Exchange Rate Pass-through to Consumer Prices in Pakistan: Does Misalignment Matter?
This study investigates the impact of exchange rate changes on consumer prices (commonly known as exchange rate pass-through (ERPT)) in Pakistan for the period 1995M1 to 2009M3. The study estimates short-run and long-run ERPT in Pakistan while taking into account the existing real exchange rate misa...
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| Veröffentlicht in: | Pakistan development review 2010-04, Vol.49 (1), p.19-35 |
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| creator | Jaffri, Atif Ali |
| description | This study investigates the impact of exchange rate changes on consumer prices (commonly known as exchange rate pass-through (ERPT)) in Pakistan for the period 1995M1 to 2009M3. The study estimates short-run and long-run ERPT in Pakistan while taking into account the existing real exchange rate misalignment (RERM). The results suggest that the ERPT to consumer price inflation in Pakistan is very low (close to zero). The impact of the previous periods' misalignment on inflation is found significant in managed exchange rate regime. However, the overall sample misalignment does not affect inflation. The impact of foreign inflation on domestic inflation is positive and statistically significant. |
| doi_str_mv | 10.30541/v49i1pp.19-35 |
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The impact of foreign inflation on domestic inflation is positive and statistically significant.</description><identifier>ISSN: 0030-9729</identifier><identifier>DOI: 10.30541/v49i1pp.19-35</identifier><language>eng</language><publisher>Islamabad: Pakistan Institute of Development Economics</publisher><subject>Consumer Price Index ; Consumer price indexes ; Consumer prices ; Currency ; Domestic prices ; Exchange rates ; Foreign exchange ; Foreign exchange rates ; Hypotheses ; Import prices ; Inflation ; Inflation (Finance) ; Inflation rates ; Monetary economics ; Monetary policy ; Pakistan ; Price levels ; Prices and rates ; Real exchange rates ; Working papers</subject><ispartof>Pakistan development review, 2010-04, Vol.49 (1), p.19-35</ispartof><rights>The Pakistan Development Review, 2009</rights><rights>COPYRIGHT 2010 Pakistan Institute of Development Economics</rights><rights>Copyright Pakistan Institute of Development Spring 2010</rights><lds50>peer_reviewed</lds50><woscitedreferencessubscribed>false</woscitedreferencessubscribed><citedby>FETCH-LOGICAL-c410t-803d4e5a8989781ab6696ce9935ee73f2efbaadf00f0fc65d093efa8f62ad9293</citedby></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><linktopdf>$$Uhttps://www.jstor.org/stable/pdf/41260991$$EPDF$$P50$$Gjstor$$H</linktopdf><linktohtml>$$Uhttps://www.jstor.org/stable/41260991$$EHTML$$P50$$Gjstor$$H</linktohtml><link.rule.ids>314,776,780,799,27901,27902,57992,58225</link.rule.ids></links><search><creatorcontrib>Jaffri, Atif Ali</creatorcontrib><title>Exchange Rate Pass-through to Consumer Prices in Pakistan: Does Misalignment Matter?</title><title>Pakistan development review</title><description>This study investigates the impact of exchange rate changes on consumer prices (commonly known as exchange rate pass-through (ERPT)) in Pakistan for the period 1995M1 to 2009M3. 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The impact of foreign inflation on domestic inflation is positive and statistically significant.</description><subject>Consumer Price Index</subject><subject>Consumer price indexes</subject><subject>Consumer prices</subject><subject>Currency</subject><subject>Domestic prices</subject><subject>Exchange rates</subject><subject>Foreign exchange</subject><subject>Foreign exchange rates</subject><subject>Hypotheses</subject><subject>Import prices</subject><subject>Inflation</subject><subject>Inflation (Finance)</subject><subject>Inflation rates</subject><subject>Monetary economics</subject><subject>Monetary policy</subject><subject>Pakistan</subject><subject>Price levels</subject><subject>Prices and rates</subject><subject>Real exchange rates</subject><subject>Working 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review</jtitle><date>2010-04-01</date><risdate>2010</risdate><volume>49</volume><issue>1</issue><spage>19</spage><epage>35</epage><pages>19-35</pages><issn>0030-9729</issn><abstract>This study investigates the impact of exchange rate changes on consumer prices (commonly known as exchange rate pass-through (ERPT)) in Pakistan for the period 1995M1 to 2009M3. 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| ispartof | Pakistan development review, 2010-04, Vol.49 (1), p.19-35 |
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| source | Jstor Complete Legacy; EZB-FREE-00999 freely available EZB journals |
| subjects | Consumer Price Index Consumer price indexes Consumer prices Currency Domestic prices Exchange rates Foreign exchange Foreign exchange rates Hypotheses Import prices Inflation Inflation (Finance) Inflation rates Monetary economics Monetary policy Pakistan Price levels Prices and rates Real exchange rates Working papers |
| title | Exchange Rate Pass-through to Consumer Prices in Pakistan: Does Misalignment Matter? |
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