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We examine the role and nature of external influences (US as well as German) and changing institutional constraints upon UK monetary policy by estimating Taylor-type reaction functions for three subperiods: 1985-90 (pre-ERM), 1992-97 (post-ERM) and 1997-2000 (MPC). We identify and contrast...
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Some studies indicate that correlations between GDP growth in Japan and in emerging East Asian countries are consistently positive; others claim that such correlations are consistently negative. In this analysis of 10 East Asian countries over 1975-2002 using quarterly GDP data, a...
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At the initiative of the Centre d’Etudes Prospectives et d’Informations Internationales (CEPII), the Bank of France’s Foundation for Research, and the Institut d’Economie publique of the University of Aix-Marseille (IDEP), a new forum to discuss economic policy was established. The first...
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Monetary policy reaction functions are estimated for the UK over three periods - 1985-90, 1992-97 and 1997-2003 - in order to disentangle two effects: the switch from an emphasis on exchange rate stabilization to inflation targeting, and the introduction of instrument-independence in 1997. The...
Persistent link: https://www.econbiz.de/10005682387
This paper uses regime-switching techniques to examine the similarities of GDP growth-cycle features of 10 East Asian countries. A third regime of rapid growth is relevant for most countries. In Japan, South Korea and Taiwan, there was no secular slowdown in growth since the rapid-growth regime...
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