The effectiveness of overnight policy rate as a nominal anchor for Malaysian monetary policy

• Main Authors: Umar, Mohammed, Dahalan, Jauhari
• 格式: Conference or Workshop Item
• 語言: English
• 出版: 2015
• 主題: HJ Public Finance
• 在線閱讀: http://repo.uum.edu.my/17049/1/16.pdf; http://repo.uum.edu.my/17049/

This paper examines the effectiveness of Overnight Policy Rate (OPR) as a nominal anchor for Malaysian monetary policy and the process through which the monetary authority determines the policy rate in the economy.The paper applies Generalized Method of Moments (GMM) estimators to estimate both base...