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| Author: | Gerlach, S. Smets, F. |
| Title: | MCIs and monetary policy |
| Journal: | European Economic Review
2000 : OCT, VOL. 44:9, p. 1677-1700 |
| Index terms: | MONETARY POLICY EXCHANGE RATES AUSTRALIA |
| Language: | eng |
| Abstract: | Several central banks have recently adopted a Monetary Conditions index (MCI) to guide monetary policy under floating exchange rates. This paper discusses some analytical and practical questions raised by MCIs. Furthermore, using data for Australia, Canada and New Zealand, which all operate monetary policy under floating rates and with an inflation target, it estimates the responses of the central banks to exchange rate changes. |
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