Abstract
Singapore’s monetary policy is centred on the management of the exchange rate. We examine how macroeconomic forecasters perceive the effectiveness of this unconventional policy. We provide empirical evidence that forecasters’ expectations are consistent with a forward-looking exchange-rate-based Taylor-type policy rule. They expect monetary authorities to actively manage the currency against expected future changes in inflation and output.
| Original language | English |
|---|---|
| Pages (from-to) | 1261-1265 |
| Number of pages | 5 |
| Journal | Applied Economics Letters |
| Volume | 25 |
| Issue number | 18 |
| DOIs | |
| Publication status | Published - 24 Oct 2018 |
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Free Keywords
- Monetary policy
- exchange rate
- forecasting
- survey data
ASJC Scopus subject areas
- Economics and Econometrics
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