Dollar exchange rate variation affects prices less than euro – Riksbank study

Krona-dollar depreciation often coincides with downturn in demand

Sveriges Riksbank
Sveriges Riksbank
Daniel Hinge

Changes in the dollar-krona exchange rate have smaller effects on consumer prices than equivalent changes in the euro-krona exchange rate, new research from Sveriges Riksbank demonstrates.

Researchers Stefania Mammos and Dmytro Stoyko show that a permanent 1% depreciation of the krona against the US dollar does not have a price impact that is statistically different from zero over 12 months.

But the same change against the euro is associated with a positive exchange-rate pass-through (ERPT) after

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