01704cas a2200241 a 4500 AALejournalIMF002126 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451858068 1018-5941 BD-DhAAL BD-DhAAL Bhundia, Ashok. An Empirical Investigation of Exchange Rate Pass-Through in South Africa / Ashok Bhundia. Washington, D.C. : International Monetary Fund, 2002. 1 online resource (28 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper analyzes the degree to which fluctuations in the nominal exchange rate passthrough to consumer prices in South Africa. While the average pass-through is found to be low, evidence from a structural vector autoregression suggests it is much higher for nominal (versus real) shocks. Historical decompositions suggest that the nominal exchange rate depreciation up to November 2001 is attributable primarily to negative real shocks, which explains why CPIX (consumer price index excluding interest on mortgate bonds) inflation did not increase significantly until December 2001, when positive nominal shocks began to contribute to the depreciation. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2002/165 Full text available on IMF http://elibrary.imf.org/view/journals/001/2002/165/001.2002.issue-165-en.xml IMF e-Library