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| Author: | Chamberlin, G. Henry, B. |
| Title: | Exchange Rate and Foreign Price Effects on UK Inflation |
| Journal: | Economic Outlook
2002 : WINTER, VOL. 26:2, p. 16-21 |
| Index terms: | EXCHANGE RATES INFLATION UNITED KINGDOM |
| Language: | eng |
| Abstract: | The issue of incomplete pass-through from exchange rate changes to domestic inflation has received considerable attention. Most models try to account for this by using a variety of assumptions about the costs of changing prices. These suggest complete pass-through, but only after the possible elapse of a considerable delay. In contrast, in this article Graeme Chamberlin and Brian Henry' provide evidence that exchange rate effects on inflation may be non- linear and, more specifically, subject to thresholds. Their tentative results suggest this may be important in describing price-setting behaviour in the UK. |
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