Exchange Market Pressure and Monetary Policy
AbstractThe objective of this study is to examine empirically the impact of monetary policy on exchange market pressure (EMP) in Bangladesh. EMP is measured as the sum of percentage change of international reserves scaled by the monetary base and nominal exchange rate appreciation.Domestic credit, the domestic component of monetary base, which is considered as the variable directly controlled by policy makers is used as measure of monetary policy.
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Date of creation: Jan 2010
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pressure; bangladesh; bank; monetary policy; exchange; foreign exchange; currency; market pressure; empirically; Variance; Domestic Credit Growth; exchange rate;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-02-13 (All new papers)
- NEP-CBA-2010-02-13 (Central Banking)
- NEP-IFN-2010-02-13 (International Finance)
- NEP-MAC-2010-02-13 (Macroeconomics)
- NEP-MON-2010-02-13 (Monetary Economics)
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