Bubbles in Exchange Rates and Monetary Policy
Datos Bibliográficos
| ID | 10493974 |
|---|---|
| Autores | Fernando Alexandre (0000-0001-7933-7885, University of Minho, autor de correspondencia), Pedro Bação (0000-0002-3340-1068, University of Coimbra), John Driffill (Universidad de Londres) |
| Año | 2010 |
| Volumen | 58 |
| Número | 1 |
| Páginas | 29-50 |
| Fecha de publicación | 2010-12-10 |
| Peer Reviewed | Sí |
| Open Access | Sí |
| Tipo | ARTICLE |
| Revista | Scottish Journal of Political Economy (JOURNAL) |
| Identificadores de la revista | ISSN: 0036-9292 • E-ISSN: 1467-9485 |
| Editorial | Wiley (PUBLISHER • GB) |
| DOI | 10.1111/j.1467-9485.2010.00539.x |
| OpenAlex | W2115697451 |
| Idioma | EN |
| Citas recibidas | 1 |
| Referencias citadas | 31 |
We evaluate the macroeconomic performance of different monetary policy rules when there are bubbles in the exchange rate. We do this in the context of a non‐linear rational expectations model. The exchange rate is allowed to deviate from its fundamental value and the persistence of the deviation is modeled as a Markov switching process. Our results suggest that reacting to exchange rate movements does not significantly improve welfare. However, taking into account the switching nature of the economy may be more beneficial
Context (archaeology · Econometrics · Economics · Exchange rate · Keynesian economics · Macroeconomics · Market economy · Markov chain · Monetary economics · Monetary policy · Persistence (discontinuity · Rational expectations · Statistics · Value (mathematics · Welfare · Complex Systems and Time Series Analysis · Economic theories and models · Mathematics · Monetary Policy and Economic Impact
| Obras citantes distintas | 1 |
|---|---|
| Citas por año | 0,1 |
| Intervalo de citas | 2016 - 2016 (1) |
| Velocidad de citación | historical |
| Altamente citado | No |
| Tipos de cita | Neutras: 1 |