Endogenous exchange-rate pass-through and self-validating exchange rate regimes

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dc.contributor.authorCorsetti, Giancarlo
dc.contributor.authorPesenti, Paolo A.
dc.date.accessioned2019-11-01T00:07:00Z
dc.date.available2019-11-01T00:07:00Z
dc.date.issued2015
dc.descriptionA long-standing question in open macroeconomics concerns the choice of currency denomination of nominal prices and contracts. A firm serving the export market may choose to set prices in its domestic currency in the currency of the market of destination or in a vehicle currency possibly indexing these prices—fully or partially—to exchange rate movements. To the extent that nominal prices remain sticky the choice among these alternatives has crucial consequences for the design of stabilization policy—by determining the degree of exchange rate pass-through on export/import prices. However the causal relation may also go in the opposite direction as the currency denomination choice may itself depend among other factors on the stabilization strategy pursued by policymakers.
dc.file.nameBCCh-sbc-v21-p229_261
dc.format.pdf
dc.format.extentSección o Parte de un Documento
dc.format.mediump. 229-261
dc.identifier.isbn978-956-7421-48-0
dc.identifier.urihttps://hdl.handle.net/20.500.12580/3829
dc.language.isoeng
dc.publisherBanco Central de Chile
dc.relation.ispartofSeries on Central Banking Analysis and Economic Policies no. 21
dc.rightsAttribution-NonCommercial-NoDerivs 3.0 Chile*
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/3.0/cl/*
dc.subjectTIPO DE CAMBIOes_ES
dc.subjectMACROECONOMÍAes_ES
dc.titleEndogenous exchange-rate pass-through and self-validating exchange rate regimes
dc.type.docArtículo

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