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Hatamerad, Saman, Adrangi, Bahram, Asgharpur, Hossain, Amini, Maryam, Rezaei, Sadeq. (1404). Exchange Rate Pass-Through to CPI in OECD Countries: Do Economic Conditions and Policy Decisions Matter?. , (), -. doi: 10.22059/ier.2025.390817.1008191
Saman Hatamerad; Bahram Adrangi; Hossain Asgharpur; Maryam Amini; Sadeq Rezaei. "Exchange Rate Pass-Through to CPI in OECD Countries: Do Economic Conditions and Policy Decisions Matter?". , , , 1404, -. doi: 10.22059/ier.2025.390817.1008191
Hatamerad, Saman, Adrangi, Bahram, Asgharpur, Hossain, Amini, Maryam, Rezaei, Sadeq. (1404). 'Exchange Rate Pass-Through to CPI in OECD Countries: Do Economic Conditions and Policy Decisions Matter?', , (), pp. -. doi: 10.22059/ier.2025.390817.1008191
Hatamerad, Saman, Adrangi, Bahram, Asgharpur, Hossain, Amini, Maryam, Rezaei, Sadeq. Exchange Rate Pass-Through to CPI in OECD Countries: Do Economic Conditions and Policy Decisions Matter?. , 1404; (): -. doi: 10.22059/ier.2025.390817.1008191

Exchange Rate Pass-Through to CPI in OECD Countries: Do Economic Conditions and Policy Decisions Matter?

Iranian Economic Review
مقالات آماده انتشار، پذیرفته شده، انتشار آنلاین از تاریخ 26 آذر 1404
نوع مقاله: Research Paper
شناسه دیجیتال (DOI): 10.22059/ier.2025.390817.1008191
نویسندگان
Saman Hatamerad1؛ Bahram Adrangi2؛ Hossain Asgharpur3؛ Maryam Amini4؛ Sadeq Rezaei* 5
1Department of Economics, Faculty of Social Sciences, University of Zanjan, Zanjan, Iran.
2Department of Economics, University of Portland, USA.
3Department of Economics, University of Tabriz, Tabriz, Iran.
4Department of Economics, University of Isfahan, Isfahan, Iran.
5Department of Entrepreneurship Development, Faculty of Entrepreneurship, University of Tehran, Tehran, Iran.
چکیده
This study investigates the determinants of exchange rate pass-through (ERPT) to the Consumer Price Index (CPI) in OECD countries from 2010 to 2021, employing Mutual Information (MI) and Generalized Method of Moments (GMM) analyses to assess the roles of economic conditions and policy decisions. The MI approach identifies the relative importance of variables such as inflation targeting, floating exchange rate regimes, GDP per capita, inflation, economic growth, economic openness, trade openness, institutional quality, and moving average growth. Findings highlight that monetary policies and income levels are primary drivers of ERPT in key years, with trade openness and inflation gaining prominence during global shocks, while institutional quality and long-term growth trends play marginal roles. Complementarily, GMM results reveal that the exchange rate and Producer Price Index significantly influence CPI, though the pass-through is incomplete, moderated by competitive markets and production efficiency. GDP per capita, trade openness, and institutional quality consistently reduce ERPT, underscoring the stabilizing effect of robust economic structures and governance, whereas inflation slightly amplifies it. Economic growth mitigates ERPT, while inflation targeting and exchange rate regimes show limited impact. These results align with established literature, emphasizing that stable monetary conditions, strong institutions, and trade openness mitigate ERPT, particularly in developed economies. This study offers critical insights for policymakers in OECD countries, highlighting the importance of fostering institutional quality and trade openness to enhance price stability amid exchange rate fluctuations.
کلیدواژه‌ها
Consumer؛ Exchange rates؛ Inflation؛ Prices Pass-through؛ Mutual Information
آمار
تعداد مشاهده مقاله: 128





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