Rationale behind the responses of monetary policy to the real exchange rate in small open economies [PDF]
We estimate how monetary policy works in small open economies. To do so, we build a dynamic stochastic general equilibrium model that incorporates the basic features of these economies.
Wildo Gonzalez, Carlos Garcia
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A disaggregated analysis of monetary policy effects on the agricultural sector in Nigeria
Apstract: Applied Studies in Agribusiness and Commerce, 2020 This study provides a disaggregated analysis of the effects of monetary policy shocks on the agricultural sector in Nigeria from 1981Q1 to 2016Q4. The study utilized the generalized impulse responses and the normalized generalized forecast error variance
Jonathan E. Ogbuabor +3 more
doaj
The Nominal Exchange Rate and Monetary Fundamentals: Evidence from Nonlinear Unit Root Tests [PDF]
In this paper we model the deviation of the nominal exchange rate from the long run equilibrium level predicted by monetary fundamentals in a nonlinear framework consistent with the presence of transaction costs.
Sofiane Hicham Sekioua
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Real Exchange Rate, Monetary Policy and Employment [PDF]
The exchange rate affects the economy through many channels and, consequently, has diverse macroeconomic and development impacts. Five are analysed in this paper: resource allocation, economic development, finance, external balance and inflation. The use
Lance Taylor, Roberto Frenkel
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The Zero-Interest-Rate and the Role of the Exchange Rate for Monetary Policy in Japan [PDF]
In this paper we study the role of the exchange rate in conducting monetary policy in an economy with near-zero nominal interest rates as experienced in Japan since the mid-1990s.
Guenter Coenen, Volker Wieland
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Exchange Market Pressure and Monetary Policy: Evidence from Pakistan [PDF]
The study employs Girton and Roper (1977) measure of exchange market pressure—sum of exchange rate depreciation and foreign reserves outflow, to examine the interaction between exchange market pressure and monetary variables, viz.
M. Idrees Khawaja
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The Complex Reaction of Monetary Policy to the Exchange Rate
, 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, Milas, C, Martin, C
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Modelling and Forecasting the Indian Re/US Dollar Exchange Rate [PDF]
This paper develops vector autoregressive and Bayesian vector autoregressive models to forecast the Indian Re/US dollar exchange rate which is governed by a managed floating exchange rate regime. It considers extensions of the monetary model that include
Rajiv Ranjan, Pami Dua
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How well do monetary fundamentals forecast exchange rates? [PDF]
For many years after the seminal work of the Meese and Rogoff (1983a), conventional wisdom held that exchange rates could not be forecast from monetary fundamentals.
Christopher J. Neely, Lucio Sarno
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The Optimal Monetary Policy Response to Exchange Rate Misalignments [PDF]
A common feature of exchange rate misalignments is that they produce a divergence between traded and non-traded goods sectors, which appears to pose a dilemma for policy makers.
Simon Wren-Lewis, Cambell Leith
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