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Exchange Rate Pass-Through into Import Prices in Jordan

Osama Sweidan ()

Global Economy Journal, 2013, vol. 13, issue 1, 109-128

Abstract: Abstract: This paper investigates the exchange rate pass-through into import prices on aggregate and disaggregates data levels in Jordan. We employ the bounds testing approach to cointegration and error correction model in a sample of annual data over the period 1976–2011. This fundamental topic has considerable policy implications. The current paper concludes that nominal exchange rate fluctuations and oil prices are the core determinants of import prices either on aggregate or disaggregate data level. The short-run and long-run nominal exchange rate pass-through elasticities coefficients in Jordan are incomplete and equal to 0.13. Besides, in the short-run, oil prices have larger effect on Jordan’s import prices compared to nominal exchange fluctuations.

Date: 2013
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DOI: 10.1515/gej-2012-0013

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