Replication data for: Missing Import Price Changes and Low Exchange Rate Pass-Through
Principal Investigator(s): View help for Principal Investigator(s) Etienne Gagnon; Benjamin R. Mandel; Robert J. Vigfusson
Version: View help for Version V1
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20120138_replicationmaterials | 10/12/2019 09:59:PM | ||
LICENSE.txt | text/plain | 14.6 KB | 10/12/2019 05:59:PM |
Project Citation:
Gagnon, Etienne, Mandel, Benjamin R., and Vigfusson, Robert J. Replication data for: Missing Import Price Changes and Low Exchange Rate Pass-Through. Nashville, TN: American Economic Association [publisher], 2014. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E114293V1
Project Description
Summary:
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A large body of empirical work has found that exchange rate
movements have only modest effects on U.S. inflation. However,
exchange rate pass-through may be underestimated because some
price changes are missed when constructing price indexes. We investigate downward biases that arise when items exit or enter the
U.S. import price index. Using Bureau of Labor Statistics microdata
we find that, although potentially large in theory, the empirical
biases are modest over typical forecast horizons. As such, the
empirical evidence continues to support the conclusion that pass-through to U.S. import prices is low.
Scope of Project
JEL Classification:
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C43 Index Numbers and Aggregation; Leading indicators
E31 Price Level; Inflation; Deflation
E52 Monetary Policy
F31 Foreign Exchange
C43 Index Numbers and Aggregation; Leading indicators
E31 Price Level; Inflation; Deflation
E52 Monetary Policy
F31 Foreign Exchange
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