Complementing the explanation provided by Calvo and Vegh (1994) for money-based stabilization programs, exchange rate …-guessers,’ who expect a jump to a reference parity level, and ‘money-followers,’ who expect nominal depreciation equal to the …

This paper examines rising asset prices in India. For the most part, asset prices in India reflect structural factors … (iii) the relationship between monetary policy and asset prices is also weak. Targeted changes in financial regulations are …

addition, there is some evidence that the accuracy of inflation forecasts has increased. The improvements in interest rate and … inflation forecasts have exceeded those in real output forecasts, suggesting that increases in reserve bank transparency are …

Standard theory shows that sterilized foreign exchange interventions do not affect equilibrium prices and quantities …

been based on discretionary targeting of broad money without any clear target to anchor inflation expectations. This paper … are required to strengthen the ability of the CBY in achieving low and stable rates of inflation over the medium term …

This paper examines the relationship between monetary policy and oil prices within a world oil demand and supply model … power. Exchange and interest rates do influence oil market equilibrium. The relationship between oil prices and interest … rates is a two-way relationship that depends on the type of oil shock. During a supply shock, rising oil prices caused …

This paper examines the impact of a monetary policy shock on output, prices, and the nominal effective exchange rate … results suggest that an exogenous increase in the short-term interest rate tends to be followed by a decline in prices and … short-term interest rate account for significant fluctuations in the nominal exchange rate and prices, while accounting …

short-term money market that it will allow. It is shown how the optimal operating procedure balances the value of attaining …