Monetary policy rule

The open economy faces many internal and external shocks, so the macroeconomic stability becomes the top priority goal. When the economy increasingly integrates into international economy, the central bank needs to gradually reduce using direct monetary tools and switch to using indirect ones.

37p mmlemmlem_124 22-12-2020 16 3   Download

My aim in accounting for potential nonlinearity is to get a better understanding of the policy makers’ opportunistic approach to monetary policy and evaluate the inflation globalization hypothesis, which basically predicts that global factors will eventually replace the domestic determinants of inflation.

138p fugu897 03-07-2019 24 3   Download