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A monetary policy rule: The augmented Monetary Conditions Index for Philippines using UECM and bounds tests

Poon, Wai-Ching - Department of Econometrics and Business Statistics, … - 2010

This paper constructs the augmented monetary conditions index (AMCI) over 1982:1-2004:4 using UECM and bounds test approach for the Philippines data. Results reveal evidence of cointegration between the real GDP and its determinants, namely short-term interest rate, exchange rate and claims on...

Persistent link: https://www.econbiz.de/10008492304

Augmented MCi: AN Indicator Of Monetary Policy Stance For ASEAN-5?

Poon, Wai Ching - Department of Econometrics and Business Statistics, … - 2010

This paper uses quarterly data from 1980 to 2004 for ASEAN-5 founder countries to estimate the weight of the Augmented Monetary Conditions Index (AMCI), and identifies the key transmission mechanism paths using Pesaran and Pesaranâ€™s (1997) ARDL procedure, and Pesaran et al.â€™s...

Persistent link: https://www.econbiz.de/10008492305

Swiss GDP revisions: A monetary policy perspective

Cuche-Curti, Nicolas; Hall, Pamela; Zanetti, Attilio - In: OECD Journal: Journal of Business Cycle Measurement and … 2008 (2008) 2, pp. 183-213

This paper focuses on Swiss GDP revisions and the uncertainty they generate from the point of view of monetary policy. After a description of the revisions features, we use GDP vintages to compute real-time output gaps using a production function approach. Then, with a nominal feedback rule, we...

Persistent link: https://www.econbiz.de/10008492345

The Asymmetric Effects of Monetary Policy and Bank Credits in Taiwan Banking Industry - A Dynamic Panel Data Analysis

Chang, Jui-Chuan; Tsong, Ching-Chuan; Wu, Chieh-Tsung - In: Journal of Economics and Management 6 (2010) 2, pp. 229-246

This paper investigates whether distributional effect arising from the impact of monetary policy on bank credits will be different when monetary policy is asymmetric. Methodologically, we use a set of high frequency panel data for Taiwan commercial banks and adopt Arellano and Bond's (1991)...

Persistent link: https://www.econbiz.de/10008492961

Is Russia Sick with the Dutch Disease?

Dobrynskaya, Victoria; Turkish, Edouard - Centre d'études prospectives et d'informations … - 2009

Despite impressive economic growth between 1999 and 2007, there is a fear that Russia may suffer the Dutch disease, which predicts that a country with large natural resource rents may experience a de-industrialisation and a lower long term economic growth. We study whether there are symptoms of...

Persistent link: https://www.econbiz.de/10008493439

Del Radicalismo a La Regeneración. La cuestión monetaria (1880-1903)

R, Juan Santiago Correa - In: Revista de Economía Institucional 11 (2009) July-December, pp. 161-178

This article shows, from an economic history perspective, the changes in the Colombian monetary policy brought about by “La Regeneración” (conservative regime) from 1880. The new political model replaced the decentralization policies, pursued by Radicals in the previous decades, with a very...

Persistent link: https://www.econbiz.de/10008493478

Inflation Targeting and the Crisis: An Empirical Assessment

de Carvalho Filho, Irineu - Volkswirtschaftliche Fakultät, … - 2010

This paper appraises how countries with inflation targeting fared during the current crisis, with the goal of … of risk by markets. We also find some weak evidence that IT countries did better on unemployment rates and advanced IT …

Persistent link: https://www.econbiz.de/10008493584

Monetary Transmission Channels in Romania – the Credit Channel

RADULESCU, Magdalena; DASCALU, Nicoleta - In: Annals - Economy Series 3 (2009) December, pp. 77-88

shows the responses of exchange rate, inflation rate, GDP, interest rate, imports and exports to a shock on non …

Persistent link: https://www.econbiz.de/10008493626

INFLATION TARGETING: IT'S NOT BROKE, IT DOESN'T NEED FIXING, BUT CAN IT SURVIVE?

SIKLOS, PIERRE L. - In: Journal of International Commerce, Economics and Policy … 01 (2010) 01, pp. 59-80

Until the end of 2005 there were few outward signs that the inflation targeting (IT) monetary policy strategy was … of the fragility of the inflation targeting regime. This paper reprises the approach followed in Siklos (2008) but adds … banks are seen as enablers of rapid asset price increases. The lesson, however, is not that inflation targeting needs to be …

Persistent link: https://www.econbiz.de/10008493706

The Fed and the ECB: why such an apparent difference in reactivity?

Penot, Alexis; Levieuge, Grégory - In: Journal of Financial Economic Policy 1 (2009) May, pp. 319-337

Purpose – The purpose of this paper is to try to understand the reasons for the differences in amplitude of monetary policy (MP) rate cycles in the USA and the euro area. Among the different candidates, the paper aims to test the role of economic structures, macroeconomic shocks, and MP...

Persistent link: https://www.econbiz.de/10008493728