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dc.contributor.authorAlola, Uju Violet
dc.contributor.authorUsman, Ojonugwa
dc.contributor.authorAlola, Andrew Adewale
dc.date.accessioned2023-04-06T11:05:18Z
dc.date.available2023-04-06T11:05:18Z
dc.date.issued2023en_US
dc.identifier.issn2199-4730
dc.identifier.urihttps://hdl.handle.net/11363/4375
dc.description.abstractThis study examines the exchange rate pass-through to the United States (US) restaurant and hotel prices by incorporating the effect of monetary policy uncertainty over the period 2001:M12 to 2019:M01. Using the nonlinear autoregressive distributed lag (NARDL) model, empirical evidence indicates asymmetric pass-through of exchange rate and monetary policy uncertainty. Moreover, a stronger pass-through effect is observed during depreciation and a negative shock in monetary policy uncertainty, corroborating asymmetric pass-through predictions. Our results further show that a positive shock in energy prices leads to an increase in restaurant and hotel prices. Furthermore, asymmetric causality indicates that a positive shock in the exchange rate causes a positive shock to restaurant and hotel prices. We found feedback causal effects between positive and negative shocks in monetary policy uncertainty and positive and negative shocks in the exchange rate. Additionally, we detected a one-way asymmetric causality, flowing from a positive (negative) shock to a positive (negative) shock in energy prices. Therefore, these findings provide insights for policymakers to achieve low and stable prices in the US restaurant and hotel industry through sound monetary policy formulations.en_US
dc.language.isoengen_US
dc.publisherSPRINGER, ONE NEW YORK PLAZA, SUITE 4600 , NEW YORK, NY 10004, UNITED STATESen_US
dc.relation.isversionof10.1186/s40854-022-00425-7en_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.rightsAttribution-NonCommercial-NoDerivs 3.0 United States*
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/3.0/us/*
dc.subjectRestaurant and hotel pricesen_US
dc.subjectExchange rateen_US
dc.subjectMonetary policy uncertaintyen_US
dc.subjectEnergy price indexen_US
dc.subjectUS economyen_US
dc.titleIs pass-through of the exchange rate to restaurant and hotel prices asymmetric in the US? Role of monetary policy uncertaintyen_US
dc.typearticleen_US
dc.relation.ispartofFinancial Innovationen_US
dc.departmentİktisadi İdari ve Sosyal Bilimler Fakültesien_US
dc.authoridhttps://orcid.org/0000-0001-5355-3707en_US
dc.identifier.volume9en_US
dc.identifier.issue1en_US
dc.identifier.startpage1en_US
dc.identifier.endpage19en_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US


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