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choice of exchange regime with macroeconomic performance, inflation in particular. Stability of the exchange rate has … generally been a by-product of other policy choices. Even announcement effects of the regime on inflation-fighting credibility …
Persistent link: https://www.econbiz.de/10012781604
transition from a currency peg to inflation targeting that took place in 1999. The estimated model exhibits quite different … higher inflation and interest rates, and slightly lower GDP. Finally, the first half of 1998 arguably provided a window of …
Persistent link: https://www.econbiz.de/10011435702
This paper theoretically evaluates the dynamic effects of a shift in an exchange rate system from a fixed regime to a basket peg, or to a floating regime, and obtains transition paths for the shift based on a dynamic stochastic general equilibrium model of a small open economy. We apply...
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Bolivia has achieved noteworthy success over the past 15 years in raising incomes, reducing poverty, and maintaining …
Persistent link: https://www.econbiz.de/10013170086
This paper analyzed the impact of United States (US) monetary shocks on the economies of selected East Asian countries using a structural vector autoregression model. We found that the impacts of the US monetary shocks on domestic interest rates and exchange rates contradict conventional wisdom....
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