Wage Subsidies as a Tool to Fight Recessions
Since 1981, MAS has used the exchange rate as the primary tool of macroeconomic stabilisation. An exchange rate-based policy rule not only describes very well Singapore’s actual conduct of monetary policy but it has also delivered reduced volatility in inflation and output. Yet, as the quotation abo...
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| Format: | text |
| Language: | English |
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Institutional Knowledge at Singapore Management University
2014
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| Online Access: | https://ink.library.smu.edu.sg/soe_research/1675 https://ink.library.smu.edu.sg/context/soe_research/article/2674/viewcontent/WageSubsidiesTooltoFightRecessions_2014.pdf |
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| Institution: | Singapore Management University |
| Language: | English |