Monetary policy and exchange rate pass-t
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Joseph E. Gagnon; Jane Ihrig
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Article
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2004
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John Wiley and Sons
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English
β 239 KB
## Abstract The passβthrough of exchange rate changes into domestic inflation appears to have declined in many countries since the 1980s. We develop a theoretical model that attributes the change in the rate of passβthrough to increased emphasis on inflation stabilization by many central banks. Thi