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IS U.S. MONEY CAUSING CHINA'S OUTPUT?
Johansson, Anders C. - Stockholm China Economic Research Institute, … - 2009
This paper tries to answer the long-standing question of whether money causes output. Instead of focusing on domestic … monetary policy and output, we analyze U.S. monetary policy and its possible effects on real output in China. Our results … indicate that the main monetary instrument in the U.S., the Federal Fund Rate, Granger causes China’s output. A second monetary …
Persistent link: https://www.econbiz.de/10004999560
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Exchange rate dynamics, expectations, and monetary policy
Chen, Qianying - Deutsche Bundesbank - 2011
This paper re-investigates the implications of monetary policy rules on changes in exchange rate, in a risk-adjusted, uncovered interest parity model with unrestricted parameters, emphasizing the importance of modeling market expectations of monetary policy. I use consensus forecasts as a proxy...
Persistent link: https://www.econbiz.de/10009283654
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How does monetary policy respond to exchange rate movements? New international evidence
Bjørnland, Hilde Christiane; Halvorsen, Jørn Inge - Centre for Applied Macro- and Petroleum economics … - 2010
This paper analyzes how monetary policy has responded to exchange rate movements in six open economies, paying particular attention to the two-way interaction between monetary policy and the exchange rate. We address this issue using a structural VAR model that is identified using a combination...
Persistent link: https://www.econbiz.de/10010553110
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How does monetary policy respond to exchange rate movements? New international evidence
Bjørnland, Hilde C.; Halvorsen, Jørn I. - Norges Bank - 2008
This paper analyzes how monetary policy responds to exchange rate movements in open economies, paying particular attention to the two-way interaction between monetary policy and exchange rate movements. We address this issue using a structural VAR model that is identified using a combination of...
Persistent link: https://www.econbiz.de/10005481446
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Spanish monetary policy: A structural VAR analysis
Shioji, Etsuro - Department of Economics and Business, Universitat … - 1997
Some past studies analyzed Spanish monetary policy with the standard VAR. Their problem is that this method obliges researchers to impose a certain extreme form of the short run policy rule on their models. Hence, it does not allow researchers to study the possibility of structural changes in...
Persistent link: https://www.econbiz.de/10005704964
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MONETARY POLICY, EXCHANGE RATE, AND THE TRANSMISSION MECHANISM IN ROMANIA: A STRUCTURAL VAR APPROACH
Botel, Cezar - In: Journal for Economic Forecasting (2003) 4, pp. 65-85
In open economies, monetary policy impulses may induce output fluctuations through the net exports effect and the … sheet channels would induce contradictory effects on output, and, therefore, ambiguous net effects. …
Persistent link: https://www.econbiz.de/10005827564
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A monetary analysis of the Drachma/ECU exchange rate determination, 1980-1991
Zis, George; Papadopoulos, Athanasios P. - In: Empirical Economics 25 (2000) 4, pp. 653-663
The validity of the monetary approach to the Drachma/ECU exchange rate determination is investigated through cointegration, impulse response and variance decomposition analysis. The empirical results reported confirm recent findings that the monetary approach may be interpreted as a long-run...
Persistent link: https://www.econbiz.de/10005612891
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Exchange rate pass-through to domestic prices in the Central European countries
Mirdala, Rajmund - Volkswirtschaftliche Fakultät, … - 2009
Exchange rate plays an important role in transmitting pressures from the external shocks to the domestic economy. Development of inflation in the domestic economy is significantly determined by the ability of exchange rate to transmit external price related pressures to the domestic market....
Persistent link: https://www.econbiz.de/10008587506
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Exchange Rate Pass-Through into Romanian Price Indices. Avar Approach.
Cozmanca, Bogdan-Octavian; Manea, Florentina - In: Journal for Economic Forecasting (2010) 3, pp. 26-52
This paper investigates the exchange rate pass-through (ERPT) into import prices, producer prices and several different measures of consumer price indices for the Romanian economy. In order to determine the size and describe the dynamics in ERPT, the paper employs an array of econometric methods...
Persistent link: https://www.econbiz.de/10008685128
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TIME-SERIES ANALYSIS OF SWEDISH CENTRAL BANK’S INTEREST RATE OPERATION RULE
Jia, Dun - In: Global Journal of Business Research 5 (2011) 2, pp. 13-25
, Sveriges Riksbank, was not merely adjusting its repo rate in response to the changes in expected inflation and output …
Persistent link: https://www.econbiz.de/10011205761