Specifically, they estimated passthrough to be 0.05 for the later period in their sample of twenty countries, implying that 10 percent depreciation would cause prices to rise only 0.5 percent.
McCarthy (1999) reached similar conclusions, finding a decline in exchange rate pass-through for all nine of the industrial countries that he examined in the period from 1983 to 1998 relative to the earlier period from 1976 to 1982.