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New Keynesian Exchange Rate Passthrough 1st Edition David Cook Woon Gyu Choi

Name: New Keynesian Exchange Rate Passthrough 1st Edition David Cook Woon Gyu Choi
SKU: BELL-51286514
Price: 31.00 USD
Availability: InStock
Rating: 4.7 (66 reviews)

SKU: BELL-51286514

$ 31.00 ~~$ 45.00~~ (-31%)

4.7

66 reviews

New Keynesian Exchange Rate Passthrough 1st Edition David Cook Woon Gyu Choi instant download after payment.

Publisher: International Monetary Fund

File Extension: EPUB

File size: 1.27 MB

Pages: 27

Author: David Cook; Woon Gyu Choi

ISBN: 9781451915242, 1451915241

Language: English

Year: 2008

Edition: 1

Product desciption

New Keynesian Exchange Rate Passthrough 1st Edition David Cook Woon Gyu Choi by David Cook; Woon Gyu Choi 9781451915242, 1451915241 instant download after payment.

Using the theory of optimal local currency pricing, this paper constructs a structural equation to estimate the rate at which foreign producer prices pass through the local currency prices of imported goods in the U.S. This can be viewed as measuring exchange rate pass-through, in line with price stickiness in the New Keynesian Phillips curve literature. We estimate the structural equation using the generalized methods of moments for consistent estimates of exchange rate pass-through. We find that a model with a mix of local currency pricing and producer currency pricing fits the data best. The estimate of price stickiness in import prices is comparable to existing estimates of domestic price stickiness.