Monetary Regime Choice in Singapore: Would a Tayor Rule Outperform Exchange-Rate Management?

• Main Authors: CHOW, Hwee Kwan, Lim, G.C., McNelis, P.
• 格式: text
• 語言: English
• 出版: Institutional Knowledge at Singapore Management University 2013
• 主題: Inflation targeting; Taylor rule; Exchange-rate management; DSGE-VAR estimation; Asian Studies; Finance; International Economics
• 在線閱讀: https://ink.library.smu.edu.sg/soe_research/1474; https://ink.library.smu.edu.sg/context/soe_research/article/2473/viewcontent/2012_11_22_eltville_02_guay_paper.pdf
• 機構: Singapore Management University

This paper adopts a dynamic stochastic general equilibrium-vector autorgressive (DSGE-VAR) approach to examine the managed exchange-rate system at work in Singapore. We examine if the country has any reason to fear floating the exchange rate and adopting a Taylor rule. Our results show that, in term...