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Exchange Rate Pass Through to Prices in Maldives, Iyabo Masha, Chanho Park

Label
Exchange Rate Pass Through to Prices in Maldives, Iyabo Masha, Chanho Park
Language
eng
Abstract
This study examines the degree of exchange rate pass through (EPRT) into producer and consumer prices in Maldives. ERPT to consumer prices is first estimated using a nonparametric approach. A recursive vector autoregression is then used to model both consumer and producer price changes. The nonparametric estimation indicates that ERPT to consumer prices is very high, both in absolute terms and relative to other countries. The dynamics of ERPT as derived from the empirical estimation indicate that ERPT to consumer and producer prices is significant but not complete, and that the impact of exchange rate changes persists into the second year
resource.governmentPublication
international or intergovernmental publication
Literary Form
non fiction
Main title
Exchange Rate Pass Through to Prices in Maldives
Nature of contents
dictionaries
Responsibility statement
Iyabo Masha, Chanho Park
Series statement
IMF Working Papers
Table Of Contents
Cover; Contents; I. Introduction; II. Theoretical Background and Empirical Literature; III. Maldives: Economy, Prices and Exchange Rates; Figures; 1. International Commodity Prices and Maldives Inflation Developments, 2006 - 2011; 2. Male and Atolls CPI Inflations by Components; IV. Non-Parametric Evidence of ERPT from the Maldives Supply and Use Table; 3. Nominal Bilateral (Rufiyaa per US Dollar) and Nominal Effective Exchange Rates, (1993-2010); Tables; 1. Total Exchange Rate Pass Through to CPI ( 1[sup(st)] and 2[sup(nd)] round effects)2. Maldives: Exchange Rate Pass Through to CPI Accounting for Substitution Effects and Distribution MarginsV. Econometric Estimation; 3. Maldives: Estimated Exchange Rate Pass Through to CPI from July 2001 Devaluation; A. Data and Econometric Issues; 4 Trends in Key Variables; B. Estimation Results; VI. Summary and Conclusion; Appendixes; I. Data Description and Sources; II. Unit Root Tests; III. Impulse Response Functions (Output gap model); IV. Impulse Response Functions (Real GDP growth model); V. Estimated Cumulative Pass Through CoefficientsVI. Variance Decomposition of Producer and Consumer Price IndexesReferences
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