Exchange Rate Passthrough in South Africa Panel Evidence from Individual Goods and Services

David Parsley

No 3580, Working Papers from South African Reserve Bank

Abstract: This study estimates pass-through for South Africa using samples of final goods and services, and homogenous imports. Estimated pass-through to consumer goods prices is low, roughly 16 percent in the two years following an exchange rate change; surprisingly, it is somewhat higher for services. Deviations from long run PPP appear to disappear relatively quickly, with a half-life of about 16 months. For imports, pass-through estimates are much higher, averaging around 60 percent, but with wide source-country variation. Finally, there is virtually no support for a simple linear trend change in either pass-through or in reversion to PPP during the sample.

Date: 2010-01-29
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Related works:
Journal Article: Exchange Rate Pass-through in South Africa: Panel Evidence from Individual Goods and Services (2012)
Working Paper: Exchange Rate Pass-through in South Africa: Panel Evidence from Individual Goods and Services (2010)
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