01795cas a2200253 a 4500 AALejournalIMF008370 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451844283 1018-5941 BD-DhAAL BD-DhAAL Hunt, Benjamin. Some Implications for Monetary Policy of Uncertain Exchange Rate Pass-Through / Benjamin Hunt, Peter Isard. Washington, D.C. : International Monetary Fund, 2003. 1 online resource (36 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 The paper uses MULTIMOD to examine the implications of uncertain exchange rate pass-through for the conduct of monetary policy. From the policymaker's perspective, uncertainty about exchange rate pass-through implies uncertainty about policy multipliers and the impact of state variables on stabilization objectives. When faced with uncertainty about the strength of exchange rate pass-through, policymakers will make less costly errors by overestimating the strength of pass-through rather than underestimating it. The analysis suggests that pass-through uncertainty of the magnitude considered does not result in efficient policy response coefficients that are smaller than those under certainty. Mode of access: Internet Isard, Peter. IMF Working Papers; Working Paper ; No. 2003/025 Full text available on IMF http://elibrary.imf.org/view/journals/001/2003/025/001.2003.issue-025-en.xml IMF e-Library