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Mark J. Holmes
''Is a more stable exchange rate associated with reduced exchange rate pass-through?''
( 2007, Vol. 6 No.39 )
Pass-through from the nominal effective exchange rate to import prices is modelled within a regime-switching environment. Evidence suggests that exchange rate pass through can be characterised as regime-specific where the probability of switching between regimes is influenced by the extent of exchange rate volatility.
JEL: F4 - Macroeconomic Aspects of International Trade and Finance: General
Manuscript Received : Sep 17 2007 Manuscript Accepted : Oct 09 2007

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