Are Asian Economies Exempt from the "impossible Trinity?": Evidence from SingaporeCenter for Pacific Basin Monetary and Economic Studies, Economic Research Department, Federal Reserve Bank of San Francisco, 1997 - 26 pages |
Common terms and phrases
Asia Authority of Singapore balance of payments Bank of San bank reaction function basket of currencies Calvo capital account liberalization capital inflows Capital Mobility central bank reaction Central Provident Fund changes in domestic coefficient of negative degree of offset domestic and foreign domestic interest rate domestic monetary empirical estimate exchange rate policies exchange rate target Federal Reserve Bank fiscal surplus foreign assets held foreign exchange market government securities government surplus imply impossible trinity independence of Singapore's International Monetary Fund Japan Kletzer and Spiegel Macroeconomic maintain an open monetary and exchange Monetary Authority monetary base money supply Mundell-Fleming model Obstfeld offset coefficient open capital account Open Economy Pacific Basin paper percent pursued Ramon Moreno real GDP Reisen Shang-Jin Wei shocks to domestic Singapore dollar Singapore's exchange rate Singapore's monetary policy sterilization policy sub-sample substitutes for foreign target the exchange test the independence U.S. dollar volatility world interest rate