A Pass‐Through Revival
A Pass‐Through Revival
复制标题
穿越复兴
DOI：
10.1111/aepr.12053
复制
发表时间：
2014
期刊：
影响因子：
--
通讯作者：
Etsuro Shioji
中科院分区：
文献类型：
--
作者：
Etsuro Shioji
type=“main”>研究发现，汇率和进口价格对本地价格的传导作用随着时间的推移而减弱。然而，最近的研究表明，这一趋势可能已经逆转。最近的研究对日本的数据应用了各种时间序列方法，估计了不同时期国内价格对汇率和进口价格的反应。这些研究发现，自21世纪初以来，传递已经令人印象深刻地卷土重来。本文回顾了最新的证据，并讨论了其政策含义。我认为，汇率很可能已经恢复了其作为货币政策向国内价格的重要传导机制的地位。
type="main"> It has been found that the pass-through of the exchange rate and import prices to domestic prices has weakened over time. The most recent research, however, shows that this trend may have been reversed. Recent studies have applied various time series methods to the Japanese data, and estimated responses of domestic prices to the exchange rate and import prices in different time periods. Those studies have found signs that pass-through has made an impressive comeback since the early 2000s. This paper reviews the most recent evidence and discusses its policy implications. I argue that the exchange rate has likely regained its status as an important transmission mechanism of monetary policy to domestic prices.
日本汇率传导的演变：基于时变参数VAR的重新评估
DOI：
--
发表时间：
2012
期刊：
Public Policy Review
影响因子：
--
作者：
Taiji Furusawa;Kazumi Hori;Ian Wooton;荒武賢一朗編;呉羽正昭;浅子和美・渡部敏明;Fumio Dei;大野泉;木宮正史;市村;荒武賢一朗・渡辺尚志編;中村正;土田和博,栗田誠,東條吉純,武田邦宣;大屋幸輔(共著);大野泉;川口大司;山本正三・田林 明・菊地俊夫 編著;土田和博・岡田外司博編著;大野健一;藤谷武史;中村覚;竹永進;大野泉;奥田安弘,岡克彦,姜成賢;中村覚;Etsuro Shioji
通讯作者：
Etsuro Shioji