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Using a comprehensive sample of 100 manufacturing industries at the two-, three-, and four-digit SIC codes, this article investigates whether the surge in U.S. consumer demand in the mid-1980's caused a structural break in the exchange rate pass-through equation, as suggested by monopolistic competition models with increasing marginal cost. The econometric results confirm such a break in almost half the sample industries where the pass-through effect is significant. In addition, the structural break is more prevalent in such industries as Electronic & Other Electrical Equipment and Transportation Equipment, which have been at the center of trade friction between the United States and its major trading partners.
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