Interest Rate Pass-Through to Macroeconomic Variables: The Nigerian Experience

Effects of Financial Liberalization on Macroeconomic Volatilities: Applications to Economic Growth, Exchange Rate and Exchange Rate Pass-Through

The Response of Exchange Rate Pass-Through to the Macroeconomic Environment

This paper offers new insights into the nature of exchange rate pass through modelling in the context of a Markov regime-switching environment. Using New Zealand data, the results indicate that pass through to import prices resulting from fluctuations in the exchange rate or exporter costs can be characterised as regime-specific. Furthermore, there is evidence that the probability of switching ...

Interest Rate Rules and Macroeconomic Stabilization

High degrees of relative risk aversion induce indeterminacy in cashin-advance economies. This paper Þnds that Taylor-style policies can pre-empt such sunspot equilibria. SpeciÞc policy recommendations depend on the fundamentals of the economy, i.e. the empirically true value of coefficient of relative risk aversion. ∗This paper was written while I was aDFG Heisenberg Fellow. I would like to tha...

The Exchange Rate Asymmetric Pass-Through to Import Price Index: The Case Study of Iran

The main objective of this paper is to investigate the asymmetric effects of exchangerate on Iranian import price index using quarterly time series data over the period 1990- 2011. For this purpose, positive and negative shocks of the exchange rate have been separated from each other using dummy variables and the effects of the size of the exchange rate shocks by determining a threshold.The emp...

effects of financial liberalization on macroeconomic volatilities: applications to economic growth, exchange rate and exchange rate pass-through