The dollar and U.S. inflation: Some evidence from a VECM process (+).

From: American Economist | Date: September 22, 2001| Author: | Copyright information

Ali F. Darrat (*)

Marc C. Chopin (**)

Ross N. Dickens (***)

1. Introduction

Since the advent of floating exchange rates in early 1973, the values of world currencies have endured large fluctuations. Several countries which experienced currency depreciation suffered domestic inflationary pressures apparently due, at least in part, to the consequent rise in import and import-related prices. When the value of home currency falls relative to foreign currencies, domestic prices of imported goods rise. If these imports represent a major component of domestic ...

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