Exchange Rate Pass-through to CPI and Inflation in Caucasian Countries
Grigol Grigolava
Broschiertes Buch

Exchange Rate Pass-through to CPI and Inflation in Caucasian Countries

Measuring effect of Exchange rate on CPI inflation by using VAR method

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Objective of this study is to analyze exchange rate pass-through in transitional, Caucasian countries. To perform proper analysis several equations must be estimated simultaneously, which nominates Vector Auto Regression as the best method for this study. Illustration of impulse response functions and variance decomposition show us degree of pass-through and share of variation in consumer prices explained by changes in exchange rate. Despite data limitation this research provides meaningful results. Caucasian countries have many similarities but each reveals its own uniqueness. Pass-through is...