Monetary policy response to exchange rates: An empirical investigation

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dc.contributor.authorYağmur, Mete Han
dc.date.accessioned2020-11-21T15:54:28Z
dc.date.available2020-11-21T15:54:28Z
dc.date.issued2016en_US
dc.departmentİstanbul Ticaret Üniversitesien_US
dc.description.abstractNotwithstanding exchange rate stability concerns in practice,exchange rate arguments are often omitted from monetary policy analysis and simple interest rate rules do not comprise exchange rate arguments even in small open economy set-ups. In order to identify the role of exchange rates in monetary policy conduct,we append them into a Taylor type of rule and examine their effect on policy interest rates in the US,UK,Canada,and Norway by utilizing general method of moments (GMM). The results suggest that for big and relatively closed economies,such as the US,exchange rate movements do not lead to significant response in policy interest rates. Nevertheless,for small open economies,both exchange rate variability and exchange rate levels are significant in monetary policy conduct. © 2016,Econjournals. All rights reserved.en_US
dc.identifier.endpage1399en_US
dc.identifier.issn2146-4138
dc.identifier.issue4en_US
dc.identifier.scopus2-s2.0-84992313046en_US
dc.identifier.scopusqualityN/Aen_US
dc.identifier.startpage1392en_US
dc.identifier.urihttps://hdl.handle.net/11467/3838
dc.identifier.volume6en_US
dc.indekslendigikaynakScopusen_US
dc.language.isoenen_US
dc.publisherEconjournalsen_US
dc.relation.ispartofInternational Journal of Economics and Financial Issuesen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/closedAccessen_US
dc.subjectExchange rate stabilityen_US
dc.subjectGeneral method of moments methoden_US
dc.subjectMonetary policyen_US
dc.titleMonetary policy response to exchange rates: An empirical investigationen_US
dc.typeArticleen_US

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