Roles of the Government Bond Yield and the Exchange Rate in the Monetary Conditions of Türkiye
Maliye Çalışmaları DergisiThe debate over measuring central bank monetary policy stance persists in the literature. Evolving economic dynamics and diverse economic structures render traditional metrics inadequate, prompting the development of comprehensive monetary conditions ...
Savaş Kaptan
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Monetary-Exchange Rate Policy and Current Account Dynamics [PDF]
A dynamic stochastic general equilibrium monetary model with incomplete and imperfect asset markets, monopolistic competition and staggered nominal price rigidities is developed to shed light on the role of exchange rate and its relation with current ...
Malik, Hamza
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Exchange Rate Management and Inflation Targeting: Modeling the Exchange Rate in Reduced-Form New Keynesian Models [PDF]
This paper introduces a strategy for modeling the exchange rate when the monetary authority targets inflation while also managing the exchange rate using interventions.
David Vávra +2 more
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Exchange Rate Volatility, Currency Substitution and Monetary Policy in Nigeria [PDF]
This study analyzes the implications of currency substitution and exchange rate volatility for monetary policy in Nigeria. It adopts the unrestricted portfolio balance model of currency substitution, incorporating exchange rate volatility within the ...
Yinusa, D. Olalekan
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The Complex Reaction of Monetary Policy to the Exchange Rate [PDF]
, 2006 We estimate a flexible non-linear monetary policy rule for the UK to examine the response of policymakers to the real exchange rate. We have three main findings.
Kharel, RS, Martin, C, Milas, C
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A Floating versus Managed Exchange Rate Regime in a DSGE Model of India [PDF]
We first develop a two-bloc model of an emerging open economy interacting with the rest of the world calibrated using Indian and US data. The model features a financial accelerator and is suitable for examining the effects of financial stress on the real
Joseph Pearlman +3 more
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Stabilization policy in a two country model and the role of financial frictions [PDF]
This paper studies the optimal choice of exchange rate regimes between two large currency areas. It provides a positive and normative analysis of alternative monetary policy rules in a model with sticky prices, monopolistic competition, and frictions in ...
Faia, Ester
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The Euro bloc, the Dollar bloc and the Yen bloc: how much monetary policy independence can exchange rate flexibility buy in an interdependent world? [PDF]
The paper analyses the trade-off between exchange rate flexibility and monetary policy autonomy. It tests empirically the 'Possible Duality' hypothesis, i.e.
Fratzscher, Marcel
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A Monetary Approach to Exchange Rate Dynamics in Low-Income Countries: Evidence from Kenya [PDF]
The flexible price monetary model assumes that both the purchasing power parity (PPP) and uncovered interest parity (UIP) hold continuously. In addition, the model posits that money market equilibrium exists, which helps to determine the exchange rate ...
Mohan, Ramesh, Nandwa, Boaz
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East Asian Economic Review, 2002 This paper analyzes the effects of macroeconomic policies and foreign shocks on the stability of a small open economy, in which equity investment is more crucial than debt investment. The key assumption of our model is that stocks and bonds are imperfect
Tae-Joon Kim , Jai-Won Ryou
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