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Replication data for: Missing Import Price Changes and Low Exchange Rate Pass-Through

Resource Type
  • Gagnon, Etienne
  • Mandel, Benjamin R.
  • Vigfusson, Robert J.
Publication Date
  • Abstract

    A large body of empirical work has found that exchange rate movements have only modest effects on U.S. inflation. However, exchange rate pass-through may be underestimated because some price changes are missed when constructing price indexes. We investigate downward biases that arise when items exit or enter the U.S. import price index. Using Bureau of Labor Statistics microdata we find that, although potentially large in theory, the empirical biases are modest over typical forecast horizons. As such, the empirical evidence continues to support the conclusion that pass-through to U.S. import prices is low.
  • Is supplement to
    DOI: 10.1257/mac.6.2.156 (Text)
  • Gagnon, Etienne, Benjamin R. Mandel, and Robert J. Vigfusson. “Missing Import Price Changes and Low Exchange Rate Pass-Through.” American Economic Journal: Macroeconomics 6, no. 2 (April 2014): 156–206.
    • ID: 10.1257/mac.6.2.156 (DOI)

Update Metadata: 2020-05-18 | Issue Number: 2 | Registration Date: 2019-10-13

Gagnon, Etienne; Mandel, Benjamin R.; Vigfusson, Robert J. (2014): Replication data for: Missing Import Price Changes and Low Exchange Rate Pass-Through. Version: V0. ICPSR - Interuniversity Consortium for Political and Social Research. Dataset.