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- W2030960071 abstract "This paper argues that the stability of exchange-rate pass-through is not well tested in common econometric specifications of pass-through equations. This is because (a) expected future exchange-rate changes are an important omitted variable in these estimations, and (b) the use of aggregate data complicates inference. Commodity-level estimates obtained from applying the Kalman filter are consistent with the apparent instability in aggregate pass-through. Moreover, by comparing these estimates to actual exchange-rate movements, the observed instability is found to be consistent with forward-looking behavior as posited." @default.
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- W2030960071 date "1995-10-01" @default.
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- W2030960071 title "Exchange-Rate Pass-Through With Intertemporal Linkages: Evidence At the Commodity Level" @default.
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- W2030960071 doi "https://doi.org/10.1111/j.1467-9396.1995.tb00075.x" @default.
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