Department of Economics Working Paper Series Exchange Rate Pass ‐ Through to Consumer Prices and the Role of Energy Prices

Exchange Rate Pass-through into Domestic Prices: Evidence from India

This study analyses the second-stage exchange rate pass-through (ERPT) into domestic prices in India over 1992–2022. Trend patterns show that the Wholesale Price Index (WPI), exchange rate (ER) and Index of Industrial Production (IIP) exhibit consistent upward movement, while the interest rate (IR) follows a relatively...

Exchange Rate Pass-Through to Consumer Prices in Nigeria: A State Space Approach

The pass-through of exchange rate movements to consumer prices in Nigeria has typically been estimated under the assumption that the transmission coefficient is fixed over the sample period. This assumption sits uneasily with a currency history that includes a managed float in 2016, a further devaluation in 2020, and a...

BIS Working Papers No 1371 What drives exchange rate pass-throughs? Evidence from a non-parametric method

Oil Prices and Exchange Rate Dynamics in a Rentier Economy: Institutional Evidence from Libya under a Managed Exchange Rate Regime

This study examines the dynamic relationship between crude oil prices and Libya's official exchange rate from 1970 to 2025, using an annual time series dataset of 56 observations from a rentier economy operating under a managed exchange rate regime. The analysis addresses a gap in the empirical literature concerning ho...

Macro-economic variables analysis in India: an empirical approach using vector autoregressive model

This study investigates the empirical relationship between macro-economic variables such as consumer price index (CPI), gold prices, index of industrial production (IIP), trade balance and crude oil prices – and the direction, magnitude and persistence of their bilateral interactions in the Indian market. Mo...

Oil Price Shocks and Macroeconomic Adjustment: Evidence on Exchange Rate, Inflation, and Interest Rate Dynamics in Nigeria

This study examines the short-run and long-run impact of oil price shocks on three major macroeconomic variables of Nigeria, which are the exchange rate, the inflation rate, and the interest rate for the period of 1974 to 2022. Nigeria is an interesting case study because it is a large crude oil exporter and a net i...