خلاصه ماشینی:
"Hence, to close this gap, the main contribution of this paper is to examine the effects of exchange rate volatility and monetary regime on the import price index in countries with the inflation targeting monetary policy versus exchange rate anchor over the period of 1999-2010.
The results of this paper indicate that exchange rate volatility, real GDP and marginal cost in exporting countries have positive effects on the import prices in these countries.
3- Empirical Model and Data Collection To investigate the effects of monetary regime and exchange rate volatility on the import prices in the two groups of countries, 1 according to the economic literature as well as empirical studies by Kim (2007), Kun Sek and Kapsalyamova (2008), Sowah (2009) and Junttila and Korhonen (2012) the following dynamic model in terms of logarithm has been specified as: (5) In above equation, LIP is unit value of imports (as a proxy for import price index); represent the first lag of unit value of imports; is nominal effective exchange rate.
In examining the monetary regime and exchange rate volatility effects on the import prices in both groups of countries, the empirical model has been estimated by dynamic panel data approach 1 .
16) , Observations: 375, Number of Countries: 43 Source: Authors Computations The empirical results for countries with inflation targeting monetary regime indicate that first lag of per unit value of imports has positive effect - In empirical model, the second order lag of LIP is considered as an instrument variable."