Arbeitspapier
Exchange rate pass-through to consumer prices: Theory and recent evidence
In an open economy such as Canada's, exchange rate movements can have a material impact on consumer prices. This is particularly important in the current context, with the significant depreciation of the Canadian dollar vis-a-vis the U.S. dollar since late 2012. This paper provides a broad overview of the various mechanisms by which exchange rate movements pass through to consumer prices and discusses the implications of exchange rate pass-through (ERPT) for the conduct of monetary policy. It then describes some of the tools used at the Bank of Canada to help quantify ERPT. We conclude by taking a closer look at the current situation in Canada, presenting a range of evidence that suggests ERPT has played an important role in recent inflation dynamics.
- Sprache
-
Englisch
- Erschienen in
-
Series: Bank of Canada Discussion Paper ; No. 2015-9
- Klassifikation
-
Wirtschaft
Price Level; Inflation; Deflation
Monetary Policy
Foreign Exchange
- Thema
-
Exchange rates
Inflation and prices
Taux de change
Inflation et prix
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Savoie-Chabot, Laurence
Khan, Mikael
- Ereignis
-
Veröffentlichung
- (wer)
-
Bank of Canada
- (wo)
-
Ottawa
- (wann)
-
2015
- DOI
-
doi:10.34989/sdp-2015-9
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Savoie-Chabot, Laurence
- Khan, Mikael
- Bank of Canada
Entstanden
- 2015
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