Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
5086341 | Japan and the World Economy | 2009 | 16 Pages |
Abstract
An important but age-old transmission channel of global factors into domestic prices is via exchange rate movements. This paper examines the extent and evolution of exchange rate pass-through (ERPT) into Korea's and Thailand's consumer and import prices at the aggregate level for the period over the last two decades. We find that ERPT appears to be consistently higher for Thailand compared to Korea; while for both nations ERPT of their respective bilateral rates with respect to the US dollar is higher than with respect to the Japanese yen. The paper also investigates if and how ERPT has changed over time, especially during and after the currency crisis period of 1997-1998, as well as its macroeconomic determinants.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Amit Ghosh, Ramkishen S. Rajan,