Monetary Policy Behaviour over the Long Run in a Small Open Economy: A Markov-Switching Vector Error-Correction Approach
نویسندگان
چکیده
منابع مشابه
Monetary policy and exchange rate overshooting in Iran: A Vector Errors Correction (VEC) approach
Assumption of exchange rate overshooting has significant position in international macroeconomic discussion. This phenomenon is one of the abnormal behaviors of exchange rate that happen in short run. Dornbusch (1976) shows that because speed of equilibrium prices is slow relative to asset markets and commodity prices are sticky in the short run, However, over time, commodity prices will rise a...
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ژورنال
عنوان ژورنال: Research in Applied Economics
سال: 2018
ISSN: 1948-5433
DOI: 10.5296/rae.v10i3.13223