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| Format: | Artículo científico |
| Language: | en |
| Published: |
Universidad de Chile
2003
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| Online Access: | https://www.redalyc.org/articulo.oa?id=22130106 |
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Table of Contents:
- The pass-through from depreciation to inflation: Chile 1986-2001 Carlos Noton Norambuena Economía y Finanzas up Pass through Inflation Devaluation A microeconomic model of imperfect Cournot competition is used to derive anexplicit endogenous relationship between price level and the nominal exchangerate. We obtain a mark-up that varies endogenously with consumer real income.Using the model, the estimated pass-through ?namely the impact of devaluationon inflation? ranges between 9-11% in the short run and between 21-32% in the long run for the period 1986-2001. However, the data supports astructural change in 1991, after which the pass-through coefficient declinessignificantly. Moreover, contrary to conventional wisdom, we find no evidence of procyclical pass-through. 2003 artículo científico 0304-2758 https://www.redalyc.org/articulo.oa?id=22130106 en http://www.redalyc.org/revista.oa?id=221 Estudios de Economía application/pdf Universidad de Chile Estudios de Economía (Chile) Num.1 Vol.30