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The Role of Exchange Rate Movements for Prices in the Euro Area

Paul Gaggl ()

Monetary Policy & the Economy, 2009, issue 2, 83–103

Abstract: This study provides new evidence on the degree of exchange rate pass-through (ERPT) within the euro area after the launch of the euro up to the end of 2007. ERPT to import, producer, and consumer prices is estimated within a simple vector auto regression (VAR) framework. ERPT in the euro area is found to be broadly consistent with earlier studies in that it exhibits the following properties: ERPT (a) is incomplete; (b) decreases along the distribution chain; (c) might have slightly decreased; and (d) varies significantly across individual EMU member countries.

Keywords: foreign exchange; open economy macroeconomics (search for similar items in EconPapers)
JEL-codes: F31 F40 (search for similar items in EconPapers)
Date: 2009
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