NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Exchange Rate Pass-Through And Monetary Policy

Frederic S. Mishkin

NBER Working Paper No. 13889
Issued in May 2008
NBER Program(s):   EFG   ME   IFM

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.

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Document Object Identifier (DOI): 10.3386/w13889

Published: Frederic S. Mishkin, 2008. "Exchange rate pass-through and monetary policy: a speech at the Norges Bank Conference on Monetary Policy, Oslo, Norway, March 7, 2008," Speech, Board of Governors of the Federal Reserve System (U.S.).

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