Exchange Rate Effects and Inflation Targeting in a Small Open Economy: A Stochastic Analysis Using FPS |
From inside the book
Results 1-3 of 4
Page 3
... key macro variables except real output . The difference between these two types of policy rules arises primarily because they use different channels to control inflation . The " strict " rules rely on direct exchange rate effects to ...
... key macro variables except real output . The difference between these two types of policy rules arises primarily because they use different channels to control inflation . The " strict " rules rely on direct exchange rate effects to ...
Page 16
... key macro variables , except for CPI inflation . This can be seen by comparing each column in table 4 with the respective column in table 5. This illustrates that the results of previous sections are robust to a more realistic ...
... key macro variables , except for CPI inflation . This can be seen by comparing each column in table 4 with the respective column in table 5. This illustrates that the results of previous sections are robust to a more realistic ...
Page 18
... key macro variables under domestic price inflation targeting is notably stronger than the results found in Svensson ( 1998 ) . Although the results are consistent with the " strict " policy rules considered in Svensson , the base - case ...
... key macro variables under domestic price inflation targeting is notably stronger than the results found in Svensson ( 1998 ) . Although the results are consistent with the " strict " policy rules considered in Svensson , the base - case ...
Common terms and phrases
1.30 RMSD INFLATION Actually Actually Actually autoregressive process base-case version CPI inflation targeting deviations of inflation direct exchange rate domestic inflation targeting domestic price inflation effects influence agents efficient frontier exchange rate effects exchange rate movements expectations effects expectations of generalised expectations process foreign sector generalised inflation import prices inflation and output inflation in domestic inflation reduces inflation targeting regimes inflation variability inflation versus influence inflation expectations instrument variability key macro variables less variability level effects lower variability maximise model economy monetary authority monetary authority's monetary policy nominal interest rates outcome under CPI output variability Phillips curve policy actions policy instrument policy reaction function policy rules considered price inflation targeting private agents projected deviations rate effects influence real output Reserve Bank results presented RMSDs in year-over-year shocks small open economy stochastic experiments targeting domestic price targeting horizon temporary disturbances variability in real version of FPS year-over-year CPI inflation Zealand περί