Patterns of exchange rate pass-through are changing – RBI paper
The extent to which exchange rate fluctuations pass through to prices in emerging markets has changed since the financial crisis, research published by the Reserve Bank of India finds.
Authors Michael Debabrata Patra, Jeevan Kumar Khundrakpam and Joice John draw together several strands of literature on pass-through, which they note has “gained depth and sophistication” in recent years. They assess the degree of pass-through for 17 “systemic” emerging market economies since 2005, accounting for
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