Exchange Rate Pass-Through Into Import Prices In Developing Countries: An Empirical Investigation

We define and estimate an exchange rate pass-through equation for 24 developing countries. We find that long run exchange rate pass-through into import price is determined by a combination of nominal effective exchange rate, the price of the competing domestic product, the exporter's cost and domestic demand conditions. Adopting a multi-country framework and using non-stationary panel estimation techniques and tests for panel cointegration, we show that exchange rate pass-through in developing countries is heterogeneous.

Long Run Exchange Rate Pass-Through Into Import Prices In Developing Countries: An Homogeneous or Heterogeneous Phenomenon?

In this paper, we analyze the nature of long-run exchange rate pass-through in a panel of 24 developing countries. We define and estimate an exchange rate pass-through equation based on micro-foundations of pricing behaviour by exporters firms. We adopt a multi-country framework and we use non-stationary panel estimation techniques and test for panel cointegration. we show that long-run exchange rate pass-through in developing countries is an heterogeneous phenomenon.Developing countries

Revisiting the Decline i he Exchange Rate Pass-Through: Further Evidence from Developing Countries.

The main purpose of the paper is to contribute to the empirical works relating to exchange rate pass-through. Indeed, we revisit the Taylor (2000) proposition for some developing countries in order to examine the decline in their pass-through coefficients, and to find possible explanations for this. To that effect, we adopt an empirical methodology based on some structural breaks and cointegration tests proposed respectively by Bai and Perron (1998), and Gregory and Hansen (1996). Our work is motivated by the fact that during the 1990s, some developing countries shifted their monetary policy in order to reduce the inflation.Exchange rate pass-through ; Developing countries ; Structural changes ; Cointegration tests.

Phase transitions for Quantum Markov Chains associated with Ising type models on a Cayley tree

The main aim of the present paper is to prove the existence of a phase transition in quantum Markov chain (QMC) scheme for the Ising type models on a Cayley tree. Note that this kind of models do not have one-dimensional analogous, i.e. the considered model persists only on trees. In this paper, we provide a more general construction of forward QMC. In that construction, a QMC is defined as a weak limit of finite volume states with boundary conditions, i.e. QMC depends on the boundary conditions. Our main result states the existence of a phase transition for the Ising model with competing interactions on a Cayley tree of order two. By the phase transition we mean the existence of two distinct QMC which are not quasi-equivalent and their supports do not overlap. We also study some algebraic property of the disordered phase of the model, which is a new phenomena even in a classical setting.Comment: 24 pages. arXiv admin note: text overlap with arXiv:1011.225

Strong Asymptotics of Jacobi-Type Kissing Polynomials

We investigate asymptotic behavior of polynomials $p^{\omega}_n(z)$ satisfying varying non-Hermitian orthogonality relations $$\int_{-1}^{1} x^kp^{\omega}_n(x)h(x) e^{\mathrm{i} \omega x}\mathrm{d} x =0, \quad k\in\{0,\ldots,n-1\},$$ where $h(x) = h^*(x) (1 - x)^{\alpha} (1 + x)^{\beta}, \ \omega = \lambda n, \ \lambda \geq 0$ and $h(x)$ is holomorphic and non-vanishing in a certain neighborhood in the plane. These polynomials are an extension of so-called kissing polynomials ($\alpha = \beta = 0$) introduced in connection with complex Gaussian quadrature rules with uniform good properties in $\omega$