The pass-through from depreciation to inflation: Chile 1986-2001

Author	dc.contributor.author	Noton Norambuena, Carlos
Admission date	dc.date.accessioned	2008-05-07T20:36:13Z
Available date	dc.date.available	2008-05-07T20:36:13Z
Publication date	dc.date.issued	2003-06
Cita de ítem	dc.identifier.citation	Estudios de Economía	en
Identifier	dc.identifier.issn	0304-2758
Identifier	dc.identifier.uri	https://repositorio.uchile.cl/handle/2250/127519
Abstract	dc.description.abstract	A microeconomic model of imperfect Cournot competition is used to derive an explicit endogenous relationship between price level and the nominal exchange rate. We obtain a mark-up that varies endogenously with consumer real income. Using the model, the estimated pass-through â€“namely the impact of devaluation on inflationâ€“ ranges between 9-11% in the short run and between 21- 32% in the long run for the period 1986-2001. However, the data supports a structural change in 1991, after which the pass-through coefficient declines significantly. Moreover, contrary to conventional wisdom, we find no evidence of procyclical pass-through.	en
Lenguage	dc.language.iso	en	en
Publisher	dc.publisher	Universidad de Chile. Departamento de Economía	en
Serie	dc.relation.ispartofseries	Vol. 30	en
Keywords	dc.subject	Exchange rate	en
Título	dc.title	The pass-through from depreciation to inflation: Chile 1986-2001	en
Document type	dc.type	Artículo de revista