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 –namely the impact of devaluation on inflation– 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 |
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