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Product‐level estimates of exchange rate pass‐through: Evidence from Turkey

2 monthes ago   |   By The World Economy

Abstract
We estimate the export and import pass‐through rates using product‐level data from Turkey. We find that the Turkish lira exchange rate changes are mostly passed on to TRY prices of exports and imports|and, therefore, modestly to their prices in trading partners' currencies. The rate of average pass‐through to TRY prices is estimated at 89 percent for imported goods and 82 percent for exported goods, with no apparent lags in the impact. Pass‐through estimates by sector show variation and are relatively low for food and agricultural products. We argue that the fine‐grained...
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