incomplete pass-through

基本解释

This paper is to do an in-depth study for the issue from an angle of incomplete exchange rate pass-through.
本文从不完全汇率传递的角度对这一问题进行较为深入的研究。
Thus incomplete exchange rate pass-through has been an important topic in the field of international finance.
因此，不完全汇率传递问题已经成为当前国际金融研究领域的热点主题。
Based on the basic theory and empirical results, this part analyzes the reason and policy implication of incomplete exchange rate pass-through effect.
基于对前文基础理论和实证结果的综合分析，这一部分探讨了人民币汇率不完全传递的原因和政策含义。

不完全传递
Further study on the cost induced by the incomplete pass-through discovers: although empirical study also indicateds that countries such as Germany and Japan exhibit PTM during appreciation, the reasoning behind it is different from China's case.
进一步对汇率不完全传递成本的研究发现:虽然对发达出口国家的实证表明了诸如德国和日本这样的出口大国在本国货币升值时也存在明显的PTM行为,但是同样行为背后的机理是不同的。