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| Abstract: This paper explores aspects of exchange rate pass-through (ERPT) relevant in the context of emerging market economies. The study reviews the existing literature, both theoretical and empirical, highlighting the main issues, explaining the major findings, and bringing forth the major gaps therein. Further, the paper emphasizes the roles of global uncertainty, geopolitical risk, central bank policies, and the various macroeconomic factors in determining ERPT. The emerging market economies of BRICS (Brazil, Russia, India, China, South Africa) serve as a case in point to illustrate these varied dimensions ingrained in ERPT. Utilizing the ARDL framework, the paper investigates the potential interactions and feedback loops between geopolitical risk, world uncertainty, tariffs, oil prices, and ERPT in the period 1980-2023, exploring whether heightened geopolitical tensions and global uncertainty amplify the impact on tradable prices and hence on ERPT. The implications of the inferences extend to effective risk management strategies in navigating the volatile global economic changes. |
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