Do Inflation Targeting Really Reduced Exchange Rate Pass-through?

Cilt: 7 Sayı: 3 1 Eylül 2017
  • Salsa Dilla
  • Noer Azam Achsani
  • Lukytawati Anggraeni
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Do Inflation Targeting Really Reduced Exchange Rate Pass-through?

Öz

Implementation of inflation targeting framework (ITF) on the behavior of exchange rate pass-though (ERPT) has been an important role in the last decade. A lot of countries have changed their exchange rate regimes and monetary policy framework. As the ITF being adopted, the role of exchange rate in influencing the inflation rate has decreased. The purpose of this research is to analyze the dynamics of ERPT before and after the implementation of ITF using data from countries. We also compare the results between high income countries and middle income countries. Using autoregressive distributed lag model for 19 countries (8 high income countries; 11 middle income countries), the finding showed mixed results regarding there is a reduction of ERPT after the adoption of ITF. On average, loss of pass-through happened both for high income and middle income countries. However, there was a significant difference on the average long-run ERPT - before and after ITF implementation - in middle income countries compared to high income countries. Thus, the adoption of ITF right after crises brought greater effect to price stability in middle income countries. New empirical findings were found, particularly from middle income countries, where there is a decrease in ERPT after the adoption of ITF in Indonesia and Thailand both in the short-run and in the long-run.

Anahtar Kelimeler

Ayrıntılar

Birincil Dil

İngilizce

Konular

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Bölüm

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Yazarlar

Salsa Dilla Bu kişi benim

Noer Azam Achsani Bu kişi benim

Lukytawati Anggraeni Bu kişi benim

Yayımlanma Tarihi

1 Eylül 2017

Gönderilme Tarihi

1 Eylül 2017

Kabul Tarihi

-

Yayımlandığı Sayı

Yıl 2017 Cilt: 7 Sayı: 3

Kaynak Göster

APA
Dilla, S., Achsani, N. A., & Anggraeni, L. (2017). Do Inflation Targeting Really Reduced Exchange Rate Pass-through? International Journal of Economics and Financial Issues, 7(3), 444-452. https://izlik.org/JA95FL26DL
AMA
1.Dilla S, Achsani NA, Anggraeni L. Do Inflation Targeting Really Reduced Exchange Rate Pass-through? IJEFI. 2017;7(3):444-452. https://izlik.org/JA95FL26DL
Chicago
Dilla, Salsa, Noer Azam Achsani, ve Lukytawati Anggraeni. 2017. “Do Inflation Targeting Really Reduced Exchange Rate Pass-through?”. International Journal of Economics and Financial Issues 7 (3): 444-52. https://izlik.org/JA95FL26DL.
EndNote
Dilla S, Achsani NA, Anggraeni L (01 Eylül 2017) Do Inflation Targeting Really Reduced Exchange Rate Pass-through? International Journal of Economics and Financial Issues 7 3 444–452.
IEEE
[1]S. Dilla, N. A. Achsani, ve L. Anggraeni, “Do Inflation Targeting Really Reduced Exchange Rate Pass-through?”, IJEFI, c. 7, sy 3, ss. 444–452, Eyl. 2017, [çevrimiçi]. Erişim adresi: https://izlik.org/JA95FL26DL
ISNAD
Dilla, Salsa - Achsani, Noer Azam - Anggraeni, Lukytawati. “Do Inflation Targeting Really Reduced Exchange Rate Pass-through?”. International Journal of Economics and Financial Issues 7/3 (01 Eylül 2017): 444-452. https://izlik.org/JA95FL26DL.
JAMA
1.Dilla S, Achsani NA, Anggraeni L. Do Inflation Targeting Really Reduced Exchange Rate Pass-through? IJEFI. 2017;7:444–452.
MLA
Dilla, Salsa, vd. “Do Inflation Targeting Really Reduced Exchange Rate Pass-through?”. International Journal of Economics and Financial Issues, c. 7, sy 3, Eylül 2017, ss. 444-52, https://izlik.org/JA95FL26DL.
Vancouver
1.Salsa Dilla, Noer Azam Achsani, Lukytawati Anggraeni. Do Inflation Targeting Really Reduced Exchange Rate Pass-through? IJEFI [Internet]. 01 Eylül 2017;7(3):444-52. Erişim adresi: https://izlik.org/JA95FL26DL