A monetary model of TL/US$ exchange rate: a co-integrating approach
In our paper, we investigate the exchange rate determination mechanism of TL/US$ for the 1987Q1-2006Q4 period using quarterly observations. Following the monetary model exchange rate determination based on the economic fundamentals, the multivariate ...
Levent, Korap
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Monetary Policy with Incomplete Exchange Rate Pass-Through [PDF]
The central bank’s optimal reaction to foreign and domestic shocks is analyzed in an inflation targeting model allowing for incomplete exchange rate pass-through.
Adolfson, Malin
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The monetary model of the US Dollar–Japanese Yen exchange rate: An empirical investigation [PDF]
, 2013 This article considers the long-run performance of the monetary approach to explain the dollar–yen exchange rates during a period of high international capital mobility.
Menla Ali, F, Hunter, J
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A Role Model for China? Exchange Rate Flexibility and Monetary Policy in Japan [PDF]
Few papers have tried to project how Chinese monetary policy will behave under flexible exchange rates. As Japan provides an important role model for China, this paper studies the role of the yen/dollar exchange rate for Japanese monetary policy after ...
Gunther Schnabl, Christian Danne
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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
doaj +1 more source
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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The interest rate - exchange rate nexus: exchange rate regimes and policy equilibria [PDF]
We study a credible Markov-perfect monetary policy in an open New Keynesian economy with incomplete financial markets. We demonstrate the existence of two discretionary equilibria. Following a shock the economy can be stabilised either 'quickly' or 'slow'
Christoph Himmels, Tatiana Kirsanova
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Incomplete Exchange Rate Pass-Through and Simple Monetary Policy Rules [PDF]
The performance of various monetary rules is investigated in an open economy with incomplete exchange rate pass-through. Implementing monetary policy through an exchange-rate augmented policy rule does not improve social welfare compared to using an ...
Adolfson, Malin
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Monetary-Exchange Rate Policy and Current Account Dynamics
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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A Comparison of Two Alternative Monetary Approaches to Exchange Rate Determination over the Long-Run [PDF]
The aim of this paper is to compare the conventional monetary model of the exchange rate with an alternative model, which incorporates a stock price measure and is based on Friedman?s money demand function.
Bruce Morley
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