The effectiveness of exchange-rate-based monetary policy: evidence from survey data

Paolo Bianchi; Bruno Deschamps

doi:10.1080/13504851.2017.1414930

The effectiveness of exchange-rate-based monetary policy: evidence from survey data

Paolo Bianchi, Bruno Deschamps

Department of Finance, Accounting and Economics

Research output: Journal Publication › Article › peer-review

2 Citations (Scopus)

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	https://doi.org/10.1080/13504851.2017.1414930
Publication status	Published - 24 Oct 2018

Keywords

Monetary policy
exchange rate
forecasting
survey data

ASJC Scopus subject areas

Economics and Econometrics

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10.1080/13504851.2017.1414930

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abstract = "Singapore{\textquoteright}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{\textquoteright} 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.",

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The effectiveness of exchange-rate-based monetary policy: evidence from survey data

Abstract

Keywords

ASJC Scopus subject areas

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