Korean research analyses transmission of exchange rate movements to domestic prices
Economists from Bank of Korea and IMF use firm-level survey to inform findings
Imported inputs play a "major role" in transmitting exchange rate fluctuations to the domestic price level, according to a working paper published today by the Bank of Korea.
Imported-inputs channel of exchange rate pass-through: Evidence from Korean firm-level pricing survey uses a Bank of Korea survey to assess how changes in the exchange rate are reflected in the price of domestically produced goods.
The authors, Jae Bin Ahn and Chang-Gui Park, find that a producer with a higher intensity of
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