Read Books Online and Download eBooks, EPub, PDF, Mobi, Kindle, Text Full Free.
The Effects Of Monetary Policy Shocks On Exchange Rates
Download The Effects Of Monetary Policy Shocks On Exchange Rates full books in PDF, epub, and Kindle. Read online The Effects Of Monetary Policy Shocks On Exchange Rates ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!
Book Synopsis Identifying the Effects of Monetary Policy Shocks on Exchange Rates Using High Frequency Data by : Jon Faust
Download or read book Identifying the Effects of Monetary Policy Shocks on Exchange Rates Using High Frequency Data written by Jon Faust and published by . This book was released on 2003 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper proposes a new approach to identifying the effects of monetary policy shocks in an international vector autoregression. Using high-frequency data on the prices of Fed Funds futures contracts, we measure the impact of the surprise component of the FOMC-day Federal Reserve policy decision on financial variables, such as the exchange rate and the foreign interest rate. We show how this information can be used to achieve identification without having to make the usual strong assumption of a recursive ordering.
Book Synopsis Some Empirical Evidence on the Effects of Monetary Policy Shocks on Exchange Rates by : Martin S. Eichenbaum
Download or read book Some Empirical Evidence on the Effects of Monetary Policy Shocks on Exchange Rates written by Martin S. Eichenbaum and published by . This book was released on 1993 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents new empirical evidence on the effects of monetary policy shocks on U.S. exchange rates, both nominal and real. Three measures of monetary policy shocks are considered: orthogonalized shocks to the Federal Funds rate, the ratio of Non Borrowed to Total Reserves and the Romer and Romer (1989) index. Using data from the flexible exchange rate era, we find that expansionary shocks to U.S. monetary policy lead to sharp. persistent depreciations in U.S. nominal and real exchange rates as well as to sharp. persistent increases in the spread between various foreign and U.S. interest rates. The temporal pattern of the depreciation in U.S. nominal exchange rates following a positive monetary policy shock is inconsistent with simple overshooting models of the type considered by Dornbusch (1976). We also find that U.S. monetary policy was less volatile under fixed exchange rates than under floating exchange rates. Finally, we find less evidence that monetary policy shocks had a significant impact on U.S. real exchange rates under the Bretton Woods agreement.
Book Synopsis The Effects of Monetary Policy Shocks on Exchange Rates by : Kyungho Jang
Download or read book The Effects of Monetary Policy Shocks on Exchange Rates written by Kyungho Jang and published by . This book was released on 2001 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Identifying the effects of monetary policy shocks on exchange rates using high frequency data by : Jon Faust
Download or read book Identifying the effects of monetary policy shocks on exchange rates using high frequency data written by Jon Faust and published by . This book was released on 2002 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Monetary Policy Transmission in Emerging Markets and Developing Economies by : Mr.Luis Brandao-Marques
Download or read book Monetary Policy Transmission in Emerging Markets and Developing Economies written by Mr.Luis Brandao-Marques and published by International Monetary Fund. This book was released on 2020-02-21 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: Central banks in emerging and developing economies (EMDEs) have been modernizing their monetary policy frameworks, often moving toward inflation targeting (IT). However, questions regarding the strength of monetary policy transmission from interest rates to inflation and output have often stalled progress. We conduct a novel empirical analysis using Jordà’s (2005) approach for 40 EMDEs to shed a light on monetary transmission in these countries. We find that interest rate hikes reduce output growth and inflation, once we explicitly account for the behavior of the exchange rate. Having a modern monetary policy framework—adopting IT and independent and transparent central banks—matters more for monetary transmission than financial development.
Book Synopsis On the Effects of Monetary Policy Shocks on Exchange Rates by : Michael Binder
Download or read book On the Effects of Monetary Policy Shocks on Exchange Rates written by Michael Binder and published by . This book was released on 2010 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Identifying the Effects of Monetary Policy Shocks on Exchange Rates Using High Frequnecy Data by :
Download or read book Identifying the Effects of Monetary Policy Shocks on Exchange Rates Using High Frequnecy Data written by and published by . This book was released on 2002 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Impact of Monetary Policyon the Exchange Rate by : Mr.Jeronimo Zettelmeyer
Download or read book The Impact of Monetary Policyon the Exchange Rate written by Mr.Jeronimo Zettelmeyer and published by INTERNATIONAL MONETARY FUND. This book was released on 2000-08-01 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies the impact effect of monetary policy shocks—identified by the reaction of three month market interest rates to policy announcements—on the exchange rate in Australia, Canada, and New Zealand during the 1990s. The main results are that (1) on average, a 100 basis point contractionary shock will appreciate the exchange rate by 2-3 percent on impact; (ii) seemingly “perverse” reactions of the exchange rate to monetary policy are mainly attributable to reverse causality; (iii) in a few instances, there were true “perverse” reactions of exchange rates to policy— generally, appreciations following expansionary shocks.
Book Synopsis The Effects of Japanese Monetary Policy Shocks on Exchange Rates by : Kyungho Jang
Download or read book The Effects of Japanese Monetary Policy Shocks on Exchange Rates written by Kyungho Jang and published by . This book was released on 2002 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis La femme faible, ou l'on représente aux femmes les dangers auxquels elles s'exposent par un commerce fréquent et assidu avec les hommes by :
Download or read book La femme faible, ou l'on représente aux femmes les dangers auxquels elles s'exposent par un commerce fréquent et assidu avec les hommes written by and published by . This book was released on 1755 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Asset Prices and Monetary Policy by : John Y. Campbell
Download or read book Asset Prices and Monetary Policy written by John Y. Campbell and published by University of Chicago Press. This book was released on 2008-11-15 with total page 444 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic growth, low inflation, and financial stability are among the most important goals of policy makers, and central banks such as the Federal Reserve are key institutions for achieving these goals. In Asset Prices and Monetary Policy, leading scholars and practitioners probe the interaction of central banks, asset markets, and the general economy to forge a new understanding of the challenges facing policy makers as they manage an increasingly complex economic system. The contributors examine how central bankers determine their policy prescriptions with reference to the fluctuating housing market, the balance of debt and credit, changing beliefs of investors, the level of commodity prices, and other factors. At a time when the public has never been more involved in stocks, retirement funds, and real estate investment, this insightful book will be useful to all those concerned with the current state of the economy.
Book Synopsis Handbook of Research Methods and Applications in Empirical Macroeconomics by : Nigar Hashimzade
Download or read book Handbook of Research Methods and Applications in Empirical Macroeconomics written by Nigar Hashimzade and published by Edward Elgar Publishing. This book was released on 2013-01-01 with total page 627 pages. Available in PDF, EPUB and Kindle. Book excerpt: This comprehensive Handbook presents the current state of art in the theory and methodology of macroeconomic data analysis. It is intended as a reference for graduate students and researchers interested in exploring new methodologies, but can also be employed as a graduate text. The Handbook concentrates on the most important issues, models and techniques for research in macroeconomics, and highlights the core methodologies and their empirical application in an accessible manner. Each chapter is largely self-contained, whilst the comprehensive introduction provides an overview of the key statistical concepts and methods. All of the chapters include the essential references for each topic and provide a sound guide for further reading. Topics covered include unit roots, non-linearities and structural breaks, time aggregation, forecasting, the Kalman filter, generalised method of moments, maximum likelihood and Bayesian estimation, vector autoregressive, dynamic stochastic general equilibrium and dynamic panel models. Presenting the most important models and techniques for empirical research, this Handbook will appeal to students, researchers and academics working in empirical macro and econometrics.
Book Synopsis Interest Rates, Exchange Rates and World Monetary Policy by : John E. Floyd
Download or read book Interest Rates, Exchange Rates and World Monetary Policy written by John E. Floyd and published by Springer Science & Business Media. This book was released on 2009-12-04 with total page 406 pages. Available in PDF, EPUB and Kindle. Book excerpt: A careful basic theoretical and econometric analysis of the factors determining the real exchange rates of Canada, the U.K., Japan, France and Germany with respect to the United States is conducted. The resulting conclusion is that real exchange rates are almost entirely determined by real factors relating to growth and technology such as oil and commodity prices, international allocations of world investment across countries, and underlying terms of trade changes. Unanticipated money supply shocks, calculated in five alternative ways have virtually no effects. A Blanchard-Quah VAR analysis also indicates that the effects of real shocks predominate over monetary shocks by a wide margin. The implications of these facts for the conduct of monetary policy in countries outside the U.S. are then explored leading to the conclusion that all countries, to avoid exchange rate overshooting, have tended to automatically follow the same monetary policy as the United States. The history of world monetary policy is reviewed along with the determination of real exchange rates within the Euro Area.
Book Synopsis The Impact of Monetary Policyon the Bilateral Exchange Rate by : Mr.Jeronimo Zettelmeyer
Download or read book The Impact of Monetary Policyon the Bilateral Exchange Rate written by Mr.Jeronimo Zettelmeyer and published by International Monetary Fund. This book was released on 2003-04-01 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the reaction of the bilateral Ch$/US$ exchange rate to monetary policy actions in Chile and the United States. The approach is to regress the change in the exchange rate following a policy announcement on changes in market interest rates in response to the same announcement. U.S. monetary policy actions that raise the three-month treasury bill rate by 1 percentage point lead to depreciations of the Chilean peso by about 1.5 to 2 percent. The exchange rate also reacts to monetary policy actions in Chile, but the response appears to be smaller, and cannot be estimated with much precision on the available sample.
Book Synopsis Noise Trading and the Effects of Monetary Policy Shocks on Nominal and Real Exchange Rates by : Christian Pierdzioch
Download or read book Noise Trading and the Effects of Monetary Policy Shocks on Nominal and Real Exchange Rates written by Christian Pierdzioch and published by . This book was released on 2003 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Macroeconomic Policy by : Martin Weale
Download or read book Macroeconomic Policy written by Martin Weale and published by Routledge. This book was released on 2015-10-05 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: This analysis of macroeconomic policy, originally published in 1989, argues that key government objectives, such as reduced inflation, decreased unemployment and an adequate level of national saving can be achieved only by employing both monetary and fiscal policies, in conjunction with supply-side policies expressly designed to improve the workings of the labour market. Part 1 is a comparative analysis showing the effects of monetary and fiscal policy on the economy. Real-wage rigidity in the labour market is shown to have important consequences for the working of both types of policy, because it conditions the economy’s response to tax changes. Part 2 presents an econometric model which combines consistent stock-flow accounts with a full range of expectational effects. Part 3 presents an innovative technique for solving rational expectations models with the need for arbitary terminal conditions.
Book Synopsis The Effects of Conventional and Unconventional Monetary Policy on Exchange Rates by : Atsushi Inoue
Download or read book The Effects of Conventional and Unconventional Monetary Policy on Exchange Rates written by Atsushi Inoue and published by . This book was released on 2018 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: What are the effects of monetary policy on exchange rates? And have unconventional monetary policies changed the way monetary policy is transmitted to international financial markets? According to conventional wisdom, expansionary monetary policy shocks in a country lead to that country's currency depreciation. We revisit the conventional wisdom during both conventional and unconventional monetary policy periods in the US by using a novel identification procedure that defines monetary policy shocks as changes in the whole yield curve due to unanticipated monetary policy moves and allows monetary policy shocks to differ depending on how they affect agents' expectations about the future path of interest rates as well as their perceived effects on the riskiness/uncertainty in the economy. Our empirical results show that: (i) a monetary policy easing leads to a depreciation of the country's spot nominal exchange rate in both conventional and unconventional periods; (ii) however, there is substantial heterogeneity in monetary policy shocks over time and their effects depend on the way they affect agents' expectations; (iii) we find favorable evidence to Dornbusch's (1976) overshooting hypothesis.
