Abstract
The decline in foreign currency value of the dollar over the past year and a half and the increase in U.S. prices inflation more recently have reaised questions concerning the extent to which the dollar depreciation has raised U.S. prices. A number of estimates of the impact of exchange rate changes on U.S. domestic prices have been made by the staff of the Federal Reserve Board, and by others. The purpose of this paper is to survey and analyze a number of alternative estimates that have been made.
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