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http://dspace.mediu.edu.my:8181/xmlui/handle/10419/17692| Title: | Comparing Monetary Policy Strategies : Towards a Generalized Reaction Function |
| Keywords: | E42 E58 E52 ddc:330 Monetary Policy Inflation Targeting Taylor Rule Monetary Conditions Index Managed Floating Geldpolitik Geldpolitisches Ziel Flexibler Wechselkurs Vergleich Theorie Reaktionsfunktion |
| Issue Date: | 16-Oct-2013 |
| Publisher: | Kiel Institute for the World Economy (IfW) Kiel |
| Description: | There seems to be no consensus in the literature with respect to monetary policy strategies in combination with flexible exchange rate regimes. Therefore, this paper determines what the alternative strategies inflation targeting, Taylor rule, monetary conditions index, and managed floating have in common. The fact that all strategies build on reaction functions which use the short-term interest rate as an important or even the single monetary policy instrument allows a generalized reaction function for all strategies to be derived. Future research may use such a generalized reaction function for describing and determining monetary policy in emerging market economies with flexible exchange rate regimes. |
| URI: | http://koha.mediu.edu.my:8181/xmlui/handle/10419/17692 |
| Other Identifiers: | http://hdl.handle.net/10419/17692 ppn:366898000 |
| Appears in Collections: | EconStor |
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