NDLI: Policy Responses to Exchange-rate Movements

Content Provider	Springer Nature Link
Author	Ball, Laurence
Copyright Year	2010
Abstract	This paper examines policy responses to exchange-rate movements in a simple model of an open economy. The optimal response of monetary policy to an exchange-rate change depends on the source of the change: on whether the underlying shock is a shift in capital flows, manufactured exports, or commodity prices. The paper compares the model’s prescriptions to the policies of an actual central bank, the Bank of Canada. Finally, the paper considers the role of fiscal policy in an open economy. Coordinated fiscal and monetary responses to exchange-rate movements stabilize output at the sectoral as well as aggregate level.
Starting Page	187
Ending Page	199
Page Count	13
File Format	PDF
ISSN	09237992
Journal	Open Economies Review
Volume Number	21
Issue Number	2
e-ISSN	1573708X
Language	English
Publisher	Springer US
Publisher Date	2010-02-09
Publisher Place	Boston
Access Restriction	One Nation One Subscription (ONOS)
Subject Keyword	Exchange rates Monetary policy Bank of Canada Development Economics International Economics
Content Type	Text
Resource Type	Article
Subject	Economics and Econometrics

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2	Indian Institute of Technology Kharagpur	Host Institute of the Project: The host institute of the project is responsible for providing infrastructure support and hosting the project	https://www.iitkgp.ac.in
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4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
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Policy Responses to Exchange-rate Movements