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Monetary and Exchange Rate Policy in Malaysia before the Asian Crisis

Umezaki, So - Institute of Developing Economies, Japan External Trade … - 2006

This paper provides a case study to characterize the monetary policy regime in Malaysia, from a medium- and long-term perspective. Specifically, we ask how the central bank of Malaysia, Bank Negara Malaysia (BNM), has structured its monetary policy regime, and how it has conducted monetary and...

Persistent link: https://www.econbiz.de/10005816497

Challenges for Inflation Targeting in Emerging Market Countries

Mishkin, Frederic S. - In: Emerging Markets Finance and Trade 44 (2008) 6, pp. 5-16

In the past decade, numerous emerging market countries have adopted inflation targeting as their basic monetary policy … inflation targeting. The paper then examines whether, given these challenges, inflation targeting has been a success in emerging …

Persistent link: https://www.econbiz.de/10005818593

On the Hump-Shaped Output Effect of Monetary Policy in an Open Economy

Pierdzioch, Christian; Yener, Serkan - Institut für Weltwirtschaft (IfW) - 2004

Results of empirical research have revealed a characteristic hump-shaped effect of monetary policy shocks on output: the effect builds to a peak after several months and then gradually dies out. We analyze, in the context of a "new open economy macroeconomics" model, factors that imply a...

Persistent link: https://www.econbiz.de/10005818857

Endogenous Indexing and Monetary Policy Models

Mash, Richard - Institut für Weltwirtschaft (IfW) - 2007

monetary policy literature. The extent to which these firms adjust their prices to lagged inflation has been taken as fixed. We …

Persistent link: https://www.econbiz.de/10005818884

Monetary Policy with Endogenous Firm Entry and Sticky Entry Costs

Griffoli, Tommaso Mancini - International Economics Section, The Graduate Institute … - 2006

This paper builds a monetary model where firm entry is endogenous, thereby exposing a new channel for the transmission of monetary policy. Individuals have a choice between consuming or investing in new firms by financing a sunk entry cost. Monetary policy shocks affect the cost-benefit analysis...

Persistent link: https://www.econbiz.de/10005819637

Inflation Targeting - the Holy Grail of Monetary Policy?

Genberg, Hans - International Economics Section, The Graduate Institute … - 2002

Inflation targeting is a statement about the objective of central bank policy and not about operating procedures. Its … structure and monetary transmission mechanism, the implementation of inflation targeting must be country specific. Instability … over time in the transmission mechanism also implies that inflation targeting strategies must evolve over time to avoid the …

Persistent link: https://www.econbiz.de/10005819641

As Good As It Gets? The International Dimension to Canada's Monetary Policy Strategy Choices

Siklos, Pierre L. - In: C.D. Howe Institute Commentary (2009) 292

The Bank of Canada must take account of the international environment, where inflation targeting has become widespread … decade and the consequences of the worldwide spread of inflation-control regimes for Canada’s targeting program, which …

Persistent link: https://www.econbiz.de/10004964341

Monetary Policy, Velocity, and the Equity Premium

Gust, Christopher; López-Salido, J David - C.E.P.R. Discussion Papers - 2009

. While stimulative monetary policy can lower risk in equity markets, it is also associated with higher inflation expectations … and inflation risk premia. The model gives rise to periods in which the zero lower bound constraint on the nominal …

Persistent link: https://www.econbiz.de/10004964418

Agricultural Trade Policy Issues in the Eighties, Current Research and Long-Term Forecasting

Hanrahan, Charles E. - International Agricultural Trade Research Consortium - IATRC - 1983

Domestic agricultural policy and trade policy are closely linked. Thus, research, including long-term forecasting activities, must take into account the domestic as well as international implications of trade policy issues. The seventh meeting of the Consortium on Trade Research on June 23-24,...

Persistent link: https://www.econbiz.de/10004964487

On Policy Interactions Among Nations: When Do Cooperation and Commitment Matter?

Thadden, Leopold von; Kempf, Hubert - Fondazione ENI Enrico Mattei (FEEM) - 2008

This paper offers a framework to study commitment and cooperation issues in games with multiple policymakers. To reconcile some puzzles in the recent literature on the nature of policy interactions among nations, we prove that games characterized by different commitment and cooperation schemes...

Persistent link: https://www.econbiz.de/10004965197