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Export to Refworks부가기능
Global commodity prices, monetary transmission, and exchange rate pass-through in the Pacific Islands
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| 자료유형 | 단행본 |
|---|---|
| 서명/저자사항 | Global commodity prices, monetary transmission, and exchange rate pass-through in the Pacific Islands/ prepared by Shanaka J. Peiri and Ding Ding. |
| 개인저자 | Peiris, Shanaka J.(Shanaka Jayanath), 1975- author. Ding, Ding,1958- author, |
| 단체저자명 | International Monetary Fund. Asia and Pacific Department. |
| 발행사항 | [Washington, D.C.]: International Monetary Fund, ?012. |
| 형태사항 | 1 online resource (16 pages). |
| 총서사항 | IMF working paper;WP/12/176 |
| ISBN | 9781475533330 1475533330 |
| 일반주기 |
Title from PDF title page (IMF Web site, viewed Jul. 17, 2012).
"Asia and Pacific Department." "July 2012." |
| 서지주기 | Includes bibliographical references. |
| 요약 | Pacific Islands countries are vulnerable to commodity price shocks, and this poses challenges to monetary policy. The high degree of exchange rate pass-through to headline inflation and the weak monetary transmission mechanism in PICs suggest a greater efficacy of exchange rate changes in affecting inflation rather than monetary policy. To assess the tradeoff between the use of the exchange rate and monetary policy in macroeconomic stabilization, we employ a model-based approach to examine the optimal policy in response to the historical distribution of exogenous shocks in a Pacific Island (Tonga). The empirical evidence and model simulations tilt in the favor of exchange rate policy given the close relationship between exchange rate changes and headline inflation and the low interest rate sensitivity of aggregate demand. |
| 일반주제명 | Prices --Islands of the Pacific --Econometric models. Prices --Tonga --Econometric models. Exchange rate pass-through --Islands of the Pacific --Econometric models. Exchange rate pass-through --Tonga --Econometric models. Monetary policy --Islands of the Pacific --Econometric models. Monetary policy --Tonga --Econometric models. BUSINESS & ECONOMICS --Finance. |
| 언어 | 영어 |
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