Exchange Market Pressure and Central Bank Policy: An Application of the Girton and Roper Monetary Model in the SEACEN Countries
This paper aims to study the reaction of the SEACEN countries to external shocks during the period 1970-1984. It examines the rationales underlying the choice of various policy options adopted by the SEACEN countries. In effect, the study revolves around the basic question of whether a further development of the existing foreign exchange market will increase the policy options, and thereby help improve the effectiveness of exchange rate and monetary policies in mitigating external shocks.
|This book is provided by South East Asian Central Banks (SEACEN) Research and Training Centre in its series Staff Papers with number sp29 and published in 1988.|
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