======Monetary regimes and labour institutions: an alternative interpretation of the downward trend in exchange-rate passthrough in peripheral countries======
This paper challenges the conventional view that lower exchange-rate pass-through in peripheral countries is due to central bank credibility, instead attributing it to weakened labor market institutions and reduced wage resistance.  \\ 
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^  Quick Facts  ^^
|Report location:  |[[https://repositorio.cepal.org/server/api/core/bitstreams/bf0c6d3b-9096-47ba-bd29-dc7208014774/content|source]]   |
|Language:  |English  |
|Publisher:  |<WRAP> 
  * [[encyclopedia:economic_commission_for_latin_america|Economic Commission for Latin America]]  
</WRAP>   |
|Authors:  | Martín Abeles, Martín Cherkasky  |
|Geographic focus:  |Global, Latin America, Eastern Europe, Asia   |
|Page count:  |páginas. 7-3  |

=====Methods=====
The research method involved empirical estimates using a local projection method on a panel of 22 peripheral countries from 1994 to 2016. The study examined the correlation between exchange-rate pass-through intensity and labor market institution strength, considering factors like central bank credibility and labor market flexibilization.  \\ 
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=====Key Insights=====
The research explores the decline in exchange-rate pass-through in peripheral countries over the last two decades, traditionally attributed to central bank credibility. The study offers an alternative explanation, focusing on concurrent labor market flexibilization and weakened labor institutions. Empirical analysis of data from 1994-2016 reveals a correlation between reduced exchange-rate pass-through and diminished labor market strength.  \\ 
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(Generated with the help of GPT-4) \\ 


=====Additional Viewpoints=====
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<span #categories_box> Categories:  {{tag>Asia_geographic_scope}} |  {{tag>Eastern_Europe_geographic_scope}} |  {{tag>English_publication_language}} |  {{tag>Global_geographic_scope}} |  {{tag>Latin_America_geographic_scope}} |  {{tag>central_bank_credibility}} |  {{tag>distributive_conflict}} |  {{tag>exchange-rate_pass-through}} |  {{tag>financialization}} |  {{tag>global_workforce}} |  {{tag>inflation_targeting}} |  {{tag>labor_market_institutions}} |  {{tag>monetary_policy}} |  {{tag>trade_liberalization}} |  {{tag>wage_resistance}}   </span>  


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