000			01956nas a2200217Ia 4500
008			241107c99999999xx |||||||||||| ||und||
022			_a0015-7325
100			_aMendali, Ganapati _9123540
245		0	_aAsymmetric Exchange Rate Pass-through in India: A Non-linear ARDL Approach
260			_bForeign Trade Review
260			_c2024
300			_a429-447
520			_aThis study makes an attempt to examine the exchange rate pass-through (ERPT) to domestic prices in India from 1993M4 to 2021M3. In the empirical literature, the relationship between the exchange rate and the price was found to be linear. However, in emerging economies recently the asymmetric relationship between these variables is noticed: the effect of appreciation on price is found to be negligible while the effect of depreciation is found to be significant. To study this behaviour, we have used non-linear autoregressive distributed lag (NARDL) model by employing five variables (viz., exchange rate, consumer price, output gap, money supply and oil prices). The structural break techniques are used to examine the differential effects of the pass-through. It found that exchange rate shocks do not lead to significant changes in consumer prices in the long run. In terms of policy, this means that the ERPT has insignificant consequences for monetary policy, and depreciation might pose a little threat to price stability. It is also established that oil price shocks are not one of the major determinants of inflation in the country and they do not pose serious challenges to price stability. Economic growth and monetary expansion also do not seem to pose any risks to price stability in the long run
650			_a Exchange Rate Pass-Through _9123541
650			_a Monetary Policy
650			_a NARDL _9123542
650			_a Structural Break _9123543
650			_aIndia
700			_a Das, Sanjukta _9123544
856			_uhttps://doi.org/10.1177/00157325231190474
999			_c134531 _d134531