A Comparative Analysis of Export Price Pass-through in Three Open Asian Economies: Korea, Singapore and Thailand

Amit Ghosh and Ramkishen Rajan

Global Economic Review, 2007, vol. 36, issue 3, 287-299

Abstract: The degree of exchange rate pass-through is of paramount importance to small and open economies as it has a direct impact on domestic inflation as well as the effectiveness of exchange rate as an adjustment tool. High exchange rate pass-through (ERPT) is often cited as a reason for a “fear of floating”. This article analyzes the degree of ERPT into the export prices of three Asian economies—Korea, Thailand and Singapore for the period 1980: Q1-2006: Q4 using both US dollar bilateral rates as well as nominal effective exchange rates. The study also examines whether there are asymmetries in ERPT between exchange rate appreciation and depreciation.

Keywords: Asia; exchange rate; export prices; inflation; pass-through (ERPT); nominal effective exchange rate (NEER); pricing-to-market (PTM) (search for similar items in EconPapers)
Date: 2007
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DOI: 10.1080/12265080701562016

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