The analysis presented by Gita Gopinath, which establishes a connection between the price pass-through to prices from exchange-rate changes and the currency in which trade is invoiced, speaks plainly to this issue. Given that most emerging-market countries’ trade is conducted in dollars, currency depreciation should push up import prices almost one for one.
吉塔·戈平纳斯（Gita Gopinath）所做的分析直指这一问题。他的分析建立了汇率变化到价格的价格传递和用于贸易计价的货币之间的关系。大部分新兴市场国家的贸易用美元结算，因此货币贬值以接近一比一的比例推升进口品价格。