Monetary-regime switch from exchange-rate to inflation targeting: - with reference to developing economies - - Image 1

£71.00

LAP Lambert Academic Publishing Monetary-regime switch from exchange-rate to inflation targeting: - with reference to developing economies -

Name: Monetary-regime switch from exchange-rate to inflation targeting: - with reference to developing economies -
Brand: LAP Lambert Academic Publishing
Price: 71.0 GBP
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The study investigates whether a switch from exchange-rate targeting to inflation targeting will facilitate a more appropriate monetary policy and a more stable macroeconomic environment in developing economies. The research finds that the exchange-rate regime is not significant in explaining growth. The empirical evidence on its effect on output volatility suggests that a terms-of-trade shock larger than seven percentage points under a fixed exchange-rate regime will give higher output volatility compared to a float. Given these findings, the study suggests the exchange rate be made flexible and that the direct targeting of inflation is a rational choice in the aftermath of peg exit. To investigate whether monetary-policy responses change under such a regime switching, allowing for the possibility of an endogenous switch, the study estimates augmented Taylor rule with two approaches: a panel switching regression; and a Markov-switching VAR. Results from both suggest that inflation targeting represented a real switch in developing economies. About the Author Marjan Petreski specializes in research and teaching in applied macroeconomics. He is affiliated with the University American College Skopje. Marjan earned his PhD in Economics from Staffordshire University in 2011. He has been awarded the Young Scientist 2009 by the Macedonian Academy of Sciences and the Olga Radzyner Award 2010 by the ÖENB.

Product Specifications

Brand: LAP Lambert Academic Publishing
Format: paperback
ASIN: 3845401540
Category: Books > Subjects
Domain: Amazon UK
Release Date: 30 June 2011
Listed Since: 01 July 2011

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LAP Lambert Academic Publishing Monetary-regime switch from exchange-rate to inflation targeting: - with reference to developing economies -

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