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kamaExchange rate pass-through to consumer prices in Ghana: is there asymmetry?
期刊名称： International Journal of Emerging Markets
作者： Lordina Amoah,Meshach Jes Aziakpono
作者机构： University of Stellenbosch Business School
年份： 2018年
期号： 第1期
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关键词： Ghana; Vector error correction model; Asymmetric exchange rate pass-through; Consumer prices成品保护措施
对胃好的食物摘要：Purpo - The purpo of this paper is to reexamine the speed and magnitude of exchange rate pass-through (ERPT) to consumer prices in Ghana. Design/methodology/approach - The Johann Maximum Likelihood approach is employed in the estimation of different models of symmetric and asy
mmetric ERPT. Specifically asymmetric ERPT models with respect to the direction and size of exchange rate changes are estimated. Findings - Results reveal that even though a depreciation in the nominal effective exchange rate will lead to an increa of consumer prices in the long-run, it is not statistically significant. Evidence also suggests a significant asymmetry with respect to direction and size of exchange
rate changes. This indicates that the right ERPT model is an asymmetric model. Specifically ERPT is found to be incomplete but relatively 喝红茶
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