The Pass-Through Puzzle: The Missing Prince from Hamlet

Abstract

Much has been made of the “puzzle” that the past appreciation and recent depreciation of the dollar have not resulted in an equal pass-through in dollar prices of imports within the US as in earlier periods (1). The media see Robert Kuttner [15] in the New York Times a yeart ago, reporting on a 1987 Brandeis Conference of local experts on international macroeconomics) have presented this with some fanfare and, presumably encouraged by economists in the field, as a major crisis in international economic theory. And it has led to a search for explanations, including a revival of the Samuelson-Kemp-Wan type of hysterisis theories in the important work by Richard Baldwin [1] and by Baldwin and Krugman [2].

Cite this work

No public copy is stored for this record, so only the metadata is cited.

Stored only when both papers are in the corpus — 32 citations exist upstream.

Papers that cite the same references — the relational fallback while embeddings are still backfilling.