Arbeitspapier
Exchange rate pass-through into German import prices: A disaggregated perspective
This study analyzes the exchange rate pass-through into German import prices based on disaggregated data taken on a monthly basis between 1995 and 2012. Our main contribution is twofold: firstly, we employ various time-series techniques to analyze data for different product categories, and also cointegration techniques to carefully distinguish between shortrun and long-run pass-through coefficients. Secondly, in a panel data approach we estimate time-varying pass-through coefficients and explain their development with regard to various macroeconomic factors. Our results show that long-run pass-through is only partly observable and incomplete, while short-run pass-through shows a more unique character, although heterogeneity across product groups does exist. We are also able to identify several macroeconomic factors which determine changes in the degree of pass-through, which is especially relevant for policymakers.
- Sprache
-
Englisch
- Erschienen in
-
Series: ROME Discussion Paper Series ; No. 13-06
- Klassifikation
-
Wirtschaft
Price Level; Inflation; Deflation
Trade: General
Empirical Studies of Trade
- Thema
-
exchange rate pass-through
Germany
cointegration
time-varying coefficient model
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Beckmann, Joscha
Belke, Ansgar
Verheyen, Florian
- Ereignis
-
Veröffentlichung
- (wer)
-
Research On Money in the Economy (ROME)
- (wo)
-
s.l.
- (wann)
-
2013
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Beckmann, Joscha
- Belke, Ansgar
- Verheyen, Florian
- Research On Money in the Economy (ROME)
Entstanden
- 2013
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