Exchange Rate Pass-Through and Monetary Policy

21 Pages Posted: 12 May 2008

See all articles by Frederic S. Mishkin

Frederic S. Mishkin

Columbia Business School - Finance and Economics; National Bureau of Economic Research (NBER)

Date Written: May 2008

Abstract

This paper discusses what recent economic research tells us about exchange rate pass-through and what this suggests for the control of monetary policy. It first focuses on exchange rate pass-through from a macroeconomic perspective and then examines the microeconomic evidence. In light of this evidence, it then discusses the implications of exchange rate movements on the conduct of monetary policy.

Suggested Citation

Mishkin, Frederic S., Exchange Rate Pass-Through and Monetary Policy (May 2008). NBER Working Paper No. w13889, Available at SSRN: https://ssrn.com/abstract=1131622

Frederic S. Mishkin (Contact Author)

Columbia Business School - Finance and Economics ( email )

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National Bureau of Economic Research (NBER)

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