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Exchange rate pass-through into consumer healthcare prices in Colombia
Transferencia del tipo de cambio a los precios de salud de los consumidores en Colombia
Repasse da taxa de câmbio para os preços de saúde do consumidor na Colômbia
DOI:
https://doi.org/10.15446/cuad.econ.v38n77.66189Palabras clave:
Healthcare, pass-through, exchange rate, FAVAR, inflation (en)salud, pass-through, tasa de cambio, FAVAR, inflación (es)
saúde, pass-through, taxa de câmbio, FAVAR, inflação (pt)
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The exchange rate pass-through into the consumer price index on healthcare goods and services was measured by estimating a FAVAR model for Colombia. Results provide evidence of an incomplete and heterogeneous effect. There is no indication of transmission to the services or insurance indexes, but there is a significant effect on the medicines and devices indexes that have implications for out-of-pocket expenditure. Therefore, this indicates that the Colombian healthcare system effectively protects consumers from exchange rate volatility, but may need to design policies to protect consumers from price rises in medicines and goods that are not covered by the national benefits package.
Se mide el efecto transmisión de la tasa de cambio al índice de precios al consumidor de los bienes y servicios de salud haciendo uso de un modelo FAVAR. Los resultados obtenidos proveen evidencia de un efecto incompleto y heterogéneo. No se encuentra un efecto transmisión a los sectores de servicios y seguros, sin embargo, se encuentra dicho efecto en medicinas y bienes, que tienen implicaciones para el gasto de bolsillo. Lo anterior indica que el sistema de salud colombiano protege a los consumidores de la volatilidad de la tasa de cambio, pero necesita políticas orientadas a sectores no cubiertos.
O efeito da transmissão da taxa de câmbio sobre o índice de preços ao consumidor de bens e serviços de saúde é medido usando um modelo FAVAR. Os resultados obtidos fornecem evidências de um efeito incompleto e heterogêneo. Não se encontra nenhum efeito de transmissão para os setores de serviços e de seguros; no entanto, esse efeito é encontrado em medicamentos e bens, que têm implicações para as despesas extras. Isso indica que o sistema de saúde colombiano protege os consumidores da volatilidade da taxa de câmbio, mas precisa de políticas orientadas para os setores não cobertos.
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1. Jamilu Iliyasu, Aliyu Rafindadi Sanusi. (2022). The role of announced exchange rate policies on exchange rate pass-through to consumer prices in an oil-based small open economy. SN Business & Economics, 3(1) https://doi.org/10.1007/s43546-022-00391-3.
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