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  • Thumbnail for Macroeconomic determinants of exchange rate pass-through in India
    Macroeconomic determinants of exchange rate pass-through in India by Rajan, Ramkishen S. , Ghosh, Amit

    This paper examines the evolution of exchange rate pass-through (ERPT)into India’s consumer price index (CPI) at the aggregate level over the period 1980Q1-2006Q4. It also investigates whether the extent of exchange rate pass-through is impacted by common macro fundamentals such as inflation and exchange rate volatility. Finally, the paper also tests for possible asymmetries of ERPT during periods of depreciation versus appreciation.