Exchange Rate Pass-through in ICT and Non-ICT Industries
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We examine the exchange rate pass-through (ERPT) in the Korean ICT industry as new ICT price data are available. We also compare it with Non-ICT industry. Our findings are, first, for both ICT and Non-ICT industries the degree of ERPT is getting smaller as the price index moves from import prices to producer prices and to consumer prices. This result is consistent with previous studies. Second, the ERPT to ICT consumer price index is not significantly different from zero. This implies that as ICT portion is growing in an economy, the impact of exchange rate variation on consumer price index will be smaller.
Abstract
We examine the exchange rate pass-through (ERPT) in the Korean ICT industry as new ICT price data are available. We also compare it with Non-ICT industry. Our findings are, first, for both ICT and Non-ICT industries the degree of ERPT is getting smaller as the price index moves from import prices to producer prices and to consumer prices. This result is consistent with previous studies. Second, the ERPT to ICT consumer price index is not significantly different from zero. This implies that as ICT portion is growing in an economy, the impact of exchange rate variation on consumer price index will be smaller.
참고문헌 (20)
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