Can exchange rate pass-through explain the price puzzle?

被引：13

作者：

Ali, Syed Zahid ^{[1
]}

Anwar, Sajid ^{[2
,3
,4
]}

机构：

[1] Lahore Univ Management Sci, Sch Econ, Lahore, Pakistan

[2] Univ Sunshine Coast, Sch Business, Maroochydore, Qld 4558, Australia

[3] Univ South Australia, Sch Commerce, Adelaide, SA 8001, Australia

[4] Shanghai Lixin Univ Commerce, Shanghai, Peoples R China

来源：

ECONOMICS LETTERS | 2016年 / 145卷

关键词：

Price puzzle; Cost channel; Exchange rate pass-through; Rational expectations; MONETARY-POLICY; COST-CHANNEL; MODEL;

D O I：

10.1016/j.econlet.2016.05.023

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

The anomalous behavior of inflation in response to contractionary monetary policy is known as the price puzzle. Using a simple open-economy macroeconomic model, with expectations formed rationally, we show that exchange rate pass-through can help in resolving the price puzzle. (C) 2016 Elsevier B.V. All rights reserved.

引用

页码：56 / 59

页数：4

共 8 条

[1] Testing the Structural Interpretation of the Price Puzzle with a Cost-Channel Model [J].

Castelnuovo, Efrem .

OXFORD BULLETIN OF ECONOMICS AND STATISTICS, 2012, 74 (03) :425-452

[2] Monetary Policy, Inflation Expectations and The Price Puzzle [J].

Castelnuovo, Efrem ;

Surico, Paolo .

ECONOMIC JOURNAL, 2010, 120 (549) :1262-1283

[3]

Gali J, 2008, MONETARY POLICY, INFLATION, AND THE BUSINESS CYCLE: AN INTRODUCTION TO THE NEW KEYNESIAN FRAMEWORK, P1

[4] Forward-looking monetary policy and anticipated shocks to inflation [J].

Kapinos, Pavel .

JOURNAL OF MACROECONOMICS, 2011, 33 (04) :620-633

[5] Does inflation increase after a monetary policy tightening? Answers based on an estimated DSGE model [J].

Rabanal, Pau .

JOURNAL OF ECONOMIC DYNAMICS & CONTROL, 2007, 31 (03) :906-937

[6] Optimal monetary policy with the cost channel [J].

Ravenna, F ;

Walsh, CE .

JOURNAL OF MONETARY ECONOMICS, 2006, 53 (02) :199-216

[7] INTERPRETING THE MACROECONOMIC TIME-SERIES FACTS - THE EFFECTS OF MONETARY-POLICY [J].

SIMS, CA .

EUROPEAN ECONOMIC REVIEW, 1992, 36 (05) :975-1000

[8] Understanding changes in exchange rate pass-through [J].

Takhtamanova, Yelena F. .

JOURNAL OF MACROECONOMICS, 2010, 32 (04) :1118-1130

← 1 →