haku: @indexterm open economy / yhteensä: 204
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| Tekijä: | Bjornland, H.C. |
| Otsikko: | Monetary policy and exchange rate interactions in a small open economy |
| Lehti: | Scandinavian Journal of Economics
2008 : VOL. 110:1, p. 197-221 |
| Asiasana: | open economy monetary policy models Scandinavia Nordic countries Norway |
| Kieli: | eng |
| Tiivistelmä: | This study analyzes the transmission mechanisms of monetary policy (henceforth as: mon-pol.) in a small open economy like Norway through structural VARs. By imposing a long-run neutrality restriction on the real exchange rate (here as: exc-rate), there is found considerable interdependence btw. mon-pol. and the exc-rate. Especially, following a contractionary mon-pol. shock, the real exc-rate immediately appreciates, after which it gradually depreciates back to the baseline. The results are found to be consistent with findings from an "event study". |
SCIMA