Do central banks respond to exchange rate movements? Some new evidence from structural estimation
نویسندگان
چکیده
منابع مشابه
Do Central Banks Respond to Exchange Rate Movements? Some New Evidence from Structural Estimation
This paper investigates whether and how exchange rate movements were taken into account in formulating monetary policy in Australia, Canada, New Zealand and the United Kingdom. We develop and estimate a structural general equilibrium two-sector model with sticky prices and wages, partial indexation on lagged inflation, a combination of both producer currency pricing and local currency pricing f...
متن کاملHow Do Agricultural Subsectors Respond to Productivity Shocks? Evidence from a Bayesian DSGE Model in Iran
Understanding the dynamics of productivity shocks is instrumental if we are to identify the sources of economic growth. This paper, investigates dynamic effects of positives productivity shocks to agricultural subsectors during the period from 1991-2015, by disaggregating agricultural sector in Iran into four key subsectors (crops, livestock, fishing and forestry) through an estimated DSGE mode...
متن کاملDoes Exchange Rate Non-Linear Movements Matter for Analyzing Investment Risk?. Evidence from Investing in Iran’s Petrochemical Industry
< p>The present study models the risk of investment in the petrochemical industry considering the impacts of exchange rate (US dollar to Iran''''s Rial) movements using the time series data from November 2008 to March 2019 and ARFIMA-FIGARCH framework. The empirical results prove the existence of the Fractal Market Hypothesis, FMH, and the Long Memory property in both the risk and return of the...
متن کاملDoes Exchange Rate Non-Linear Movements Matter for Analyzing Investment Risk? Evidence from Investing in Iran’s Petrochemical Industry
The present study models the risk of investment in the petrochemical industry considering the impacts of exchange rate (US dollar to Iran's Rial) movements using the time series data from November 2008 to March 2019 and ARFIMA-FIGARCH framework. The empirical results prove the existence of the Fractal Market Hypothesis, FMH, and the Long Memory property in both the risk and return of the petroc...
متن کاملDoes Agriculture Price Index Respond to Exchange Rate Fluctuations in Iran?
Since some raw materials, semi manufactured, intermediate and capital goods in agricultural sector are imported, the exchange rate fluctuations can affect the cost price of products in this sector. Recently, we are facing considerable fluctuations in exchange rate that has an important impact on all sectors including the agriculture. As a result of an increase in import prices in agricultural r...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Canadian Journal of Economics/Revue canadienne d'économique
سال: 2013
ISSN: 0008-4085,1540-5982
DOI: 10.1111/caje.12023