Exchange rate pass-through, the terms of trade and the trade balance

Eithne Murphy and Lelio Lapadre ()
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Lelio Lapadre: Department of Economics, National University of Ireland, Galway

No 34, Working Papers from National University of Ireland Galway, Department of Economics

Abstract: We show that if exchange rate pass-through is incomplete, a country's terms of trade may move in the same or contrary direction to the nominal value of its currency. Moreover, when the degree of pass-through is endogenous, the trade balance must improve it the currency devalues.

JEL-codes: F41 (search for similar items in EconPapers)
Date: 1999, Revised 1999
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