Belgian research examines factors behind exchange rate pass-through


A working paper, published by the National Bank of Belgium on December 5, identifies firm size and import intensity as two related factors affecting the degree to which exporting firms pass on exchange rate adjustments to consumers.

Mary Amiti, Oleg Itskhoki and Jozef Konings, the authors of the paper, study firm-level data over the period 2000 to 2008, finding that large firms tend to import large amounts of intermediate inputs, which in turn offsets the need for a firm to adjust prices in

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