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Taiwan'S Exchange Rate And Macroeconomic Policies Over The Business Cycle

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  • SHIU-SHENG CHEN

    ()
    (Department of Economics, National Taiwan University, No. 21, Hsu-Chow Road, Taipei, Taiwan)

  • TSONG-MIN WU

    (Department of Economics, National Taiwan University, No. 21, Hsu-Chow Road, Taipei, Taiwan)

Abstract

This paper investigates exchange rate and monetary policies over the business cycle in Taiwan. We first characterize the business cycle dynamics in Taiwan and identify foreign shocks as the main cause of any fluctuations. We then briefly review the exchange rate system and policy operating in Taiwan since the early 1980s. Finally, we investigate the current recession, and discuss how the Taiwanese government is dealing with the economic slowdown.

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Bibliographic Info

Article provided by World Scientific Publishing Co. Pte. Ltd. in its journal The Singapore Economic Review.

Volume (Year): 55 (2010)
Issue (Month): 03 ()
Pages: 435-457

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Handle: RePEc:wsi:serxxx:v:55:y:2010:i:03:p:435-457

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Keywords: Exchange rate policy; macroeconomic policy; business cycles; F31; E32; E63;

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  9. Rasmus Fatum & Michael M. Hutchison, . "Is Sterilized Foreign Exchange Intervention Effective After All? An Event Study Approach," EPRU Working Paper Series, Economic Policy Research Unit (EPRU), University of Copenhagen. Department of Economics 99-09, Economic Policy Research Unit (EPRU), University of Copenhagen. Department of Economics.
  10. Dueker, Michael & Fischer, Andreas M., 1996. "Inflation targeting in a small open economy: Empirical results for Switzerland," Journal of Monetary Economics, Elsevier, Elsevier, vol. 37(1), pages 89-103, February.
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