Isbn: 9783847342618 - a monetary policy rule: the augmented monetary conditions index: on the asean-five (3 risultati)

Taschenbuch. Condizione: Neu. A Monetary Policy Rule: The Augmented Monetary Conditions Index | On the Asean-Five | Wai-Ching Poon | Taschenbuch | Englisch | LAP Lambert Academic Publishing | EAN 9783847342618 | Verantwortliche Person für die EU: preigu GmbH & Co. KG, Lengericher Landstr. 19, 49078 Osnabrück, mail[at]preigu[dot]de | Anbieter: preigu.…

Condizione: New. Dieser Artikel ist ein Print on Demand Artikel und wird nach Ihrer Bestellung fuer Sie gedruckt. Autor/Autorin: Poon Wai-ChingPoon Wai-Ching is a Senior Lecturer in the Economics Department at Monash University Sunway Campus. She is the recepient of several scholarly awards, and she also publishes in international refereed journals and present.…

Taschenbuch. Condizione: Neu. nach der Bestellung gedruckt Neuware - Printed after ordering - Previous studies suggested Monetary Conditions Index (hereafter MCI) serves as an indicator of the monetary policy stance to capture the degree of tightness of the monetary policy. The weights of the MCI in the model reflect long-term effects of the interest rate and the exchange rate on the economic activity. Nevertheless, MCIs may not be used as an operational target as it is not resilient to shock identification. Recognizing the caveats upon its usage empirically, the augmented MCI (AMCI) is contemplated by incorporating other informative variables into the conventional model. Since monetary policy affects the price level through a number of transmission mechanisms, other variables need to be incorporated to AMCI to account for possible channels in the transmission mechanisms. First, the weight of the AMCI is estimated, and the lag effect on the real GDP is identified using Autoregression Distribution Lags (ARDL) approach. Bounds test reveals evidence of cointegration for ASEAN-Five countries. Results reveal that AMCI tracks the inverse movements of the real GDP plausibly well on average, except during the onset of 1997/98 Asian Financial Crisis.…