Heterogeneity Across Emerging Market Central Bank Reaction Functions.pdf

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Preview of Heterogeneity across emerging market central bank reaction functions
🔗 Source: econstor.eu
📊 Size: 323 KB
👤 Author: Turkay, Mesut
⬇️ Downloads: 60

Summary

Mesut Turkay analyzes monetary policy reaction functions of 15 inflation-targeting emerging market economies, modeling heterogeneity across central bank behavior using dynamic common correlated effects estimator. The study finds that central banks behave according to an extended Taylor rule, responding to inflation deviation, output gap, real exchange rate, and external financial conditions, considering both price and financial stability in setting interest rates.

Description

Mesut Turkay analyzes monetary policy reaction functions of 15 inflation-targeting emerging market economies, modeling heterogeneity across central bank...

Technical Information

  • File Format: PDF
  • File Size: 323 KB
  • Pages: 7
  • Language: EN
  • Author: Turkay, Mesut
  • Total Downloads: 60
  • Last Updated: 2 months ago

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