Optimal monetary policy with a regime-switching exchange rate in a forward-looking model
Autor(a) principal: | |
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Data de Publicação: | 2007 |
Outros Autores: | , |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/1822/7298 |
Resumo: | This version: 3/11/2007. The authors are grateful to Luis Aguiar-Conraria, Miguel Portela and other participants at the 13th International Conference of the Society of Computational Economics, Montreal, and at a NIPE Seminar, University of Minho, Braga, Portugal. F. Alexandre and P. Ba»c~ao are grateful for the hospitality enjoyed at Birkbeck College. |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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7160 |
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Optimal monetary policy with a regime-switching exchange rate in a forward-looking modelExchange ratesMonetary policyMarkov switchingThis version: 3/11/2007. The authors are grateful to Luis Aguiar-Conraria, Miguel Portela and other participants at the 13th International Conference of the Society of Computational Economics, Montreal, and at a NIPE Seminar, University of Minho, Braga, Portugal. F. Alexandre and P. Ba»c~ao are grateful for the hospitality enjoyed at Birkbeck College.We evaluate the macroeconomic performance of different monetary policy rules when there is exchange rate uncertainty. 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 taking into account the switching nature of the economy is important only in extreme cases.Fundação para a Ciência e a Tecnologia (FCT) Research grant POCI/EGE/56054/2004 (partially funded by FEDER).Universidade do Minho. Núcleo de Investigação em Políticas Económicas (NIPE)Universidade do MinhoAlexandre, FernandoBação, PedroDriffill, John20072007-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/1822/7298engNIPE Working Paper series; 26info:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-07-21T12:48:11Zoai:repositorium.sdum.uminho.pt:1822/7298Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T19:46:22.963567Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
Optimal monetary policy with a regime-switching exchange rate in a forward-looking model |
title |
Optimal monetary policy with a regime-switching exchange rate in a forward-looking model |
spellingShingle |
Optimal monetary policy with a regime-switching exchange rate in a forward-looking model Alexandre, Fernando Exchange rates Monetary policy Markov switching |
title_short |
Optimal monetary policy with a regime-switching exchange rate in a forward-looking model |
title_full |
Optimal monetary policy with a regime-switching exchange rate in a forward-looking model |
title_fullStr |
Optimal monetary policy with a regime-switching exchange rate in a forward-looking model |
title_full_unstemmed |
Optimal monetary policy with a regime-switching exchange rate in a forward-looking model |
title_sort |
Optimal monetary policy with a regime-switching exchange rate in a forward-looking model |
author |
Alexandre, Fernando |
author_facet |
Alexandre, Fernando Bação, Pedro Driffill, John |
author_role |
author |
author2 |
Bação, Pedro Driffill, John |
author2_role |
author author |
dc.contributor.none.fl_str_mv |
Universidade do Minho |
dc.contributor.author.fl_str_mv |
Alexandre, Fernando Bação, Pedro Driffill, John |
dc.subject.por.fl_str_mv |
Exchange rates Monetary policy Markov switching |
topic |
Exchange rates Monetary policy Markov switching |
description |
This version: 3/11/2007. The authors are grateful to Luis Aguiar-Conraria, Miguel Portela and other participants at the 13th International Conference of the Society of Computational Economics, Montreal, and at a NIPE Seminar, University of Minho, Braga, Portugal. F. Alexandre and P. Ba»c~ao are grateful for the hospitality enjoyed at Birkbeck College. |
publishDate |
2007 |
dc.date.none.fl_str_mv |
2007 2007-01-01T00:00:00Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/1822/7298 |
url |
http://hdl.handle.net/1822/7298 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
NIPE Working Paper series; 26 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
Universidade do Minho. Núcleo de Investigação em Políticas Económicas (NIPE) |
publisher.none.fl_str_mv |
Universidade do Minho. Núcleo de Investigação em Políticas Económicas (NIPE) |
dc.source.none.fl_str_mv |
reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
instname_str |
Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
instacron_str |
RCAAP |
institution |
RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
collection |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
repository.name.fl_str_mv |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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1799133032350744576 |