Exchange rate pass-through in Brazil: Cost pressure in an input-output approach
Keywords:exchange rate pass-through (ERPT), cost-push channel, input-output analysis (IOA)
This research aimed to analyze the exchange rate pass-through in Brazil between 1995 and 2019. Using Input-Output Analysis (IOA) was investigated cost-push channel exerted by exchange rate variations, in addition to analyzing the role of imported final goods and the participation and relevance of specific sectors in price formation. The results suggest that changes in the structure of intermediate consumption may be causing a higher cost pressure in recent years. Furthermore, the effects disaggregated by sector are revealed, in which sectors such as automobiles, food, pharmaceuticals, oil refining and wholesale and retail trade have greater participation in the exchange rate pass-through.
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Copyright (c) 2023 Stefan Silva Amaral, Igor Ézio Maciel Silva, Fabrício Pitombo Leite
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