Interest Rates Targeting of Monetary Policy: An Open Economy SVAR Study of Malaysia
Abstract
DOI: 10.22146/gamaijb.5464
References
Amisano, G., and C. Giannini. 1996. Topics in Structural VAR Econometrics. Berlin: Springer.
Azali, M., and K. Matthews. 1999. Money-Income and credit-income relationships during the pre-and the post-liberalization periods: Evidence from Malaysia. Applied Economics 31: 1161-1170.
Barth, M. J., and V. A. Ramey. 2000. The cost channel of monetary transmission. NBER Working Paper Series. Cambridge: National Bureau of Economic Research.
Bernanke, B. S. 1986. Alternative explanations of the money-income correlation. Carnegie-Rochester Conference Series on Public Policy 25: 49-100.
Bernanke, B. S., and A. S. Blinder. 1992. The federal funds rate and the channel of monetary transmission. The American Economic Review 82: 901-921.
Bernanke, B. S., M. Gertler, and M. Watson. 1997. Systematic monetary policy and the effects of oil shocks. Brookings Papers on Economic Activity 1: 91-157.
Bernanke, B. S., and I. Mihov. 1998. Measuring monetary policy. The Quarterly Journal of Economics 113: 869-902.
Bjørnland, H. C., and K. Leitemo. 2009. Identifying the interdependence between US monetary policy and the stock market. Journal of Monetary Economics 56: 275-282.
Blanchard, O., and D. Quah. 1989. The dynamic effects of aggregate demand and supply disturbances. American Economic Review 79: 655-673.
Brischetto, A., and G. Voss. 1999. A structural vector auto regression model of monetary policy in Australia. Research Discussion Paper. Reserve Bank of Australia.
Bucle, R. A., K. Kim, H. Kirkham, N. McLellan, and J. Sharma. 2007. A Structural VAR business cycle model for a volatile small open economy. Economic Modeling 24: 990-1017.
Cushman, D. O., T. Zha. 1997. Identifying monetary policy in a small open economy under flexible exchange rates. Journal of Monetary Economics 39: 433-448.
Domac, I. 1999. The Distributional Consequences of Monetary Policy: Evidence from Malaysia. Policy Research Working Paper the World Bank. East Asia and Pacific Region.
Dungey, M., and A. Pagan. 2000. A Structural VAR model of the Australian economy. The Economic Record 76: 321-342.
Fuller, W. A. 1976. Introduction to Statistical Time Series. New York: John Wiley.
Gali, J. 1992. How well does the IS-LM model fit postwar U.S data? . The Quarterly Journal of Economics 107: 709-738.
Hamilton, J. 1996. This is what happened to the oil price macro economy relationship. Journal of Monetary Economics 38: 215-220.
Handa, J. 2009. Monetary Economics. London and New York: Routledge, Taylor & Francis Group.
Ibrahim, M. 2005. Sectoral effect of monetary policy: Evidence from Malaysia. Asian Economic Journal 19: 83-102.
Jensen, G. R., and J. M. Mercer. 2002. Monetary policy and the cross-section of expected stock return. The Journal of Financial Research XXV: 125-139.
Kim, S., and N. Roubini. 2000. Exchange rate anomalies in the industrial countries: A solution with a structural VAR approach. Journal of Monetary Economics 45: 561-586.
Leeper, E. M., and D. B. Gordon. 1991. In search of the liquidity effect. Journal of Monetary Economics 29: 341-369.
Levtchenkova, S., A. R. Pagan, and J. C. Robertson. 1998. Shocking stories. Journal of Economic Survey 12: 507-532.
Levy J., and I. Halikias. 1997. Aspects of monetary transmission mechanism under exchange rate targeting: the case of France. IMF Working Paper Series.
Ludvigson, S., C. Steindel, and M. Lettau. 2002. Monetary policy transmission through the consumption-wealth channel. FRBNY Economic Policy Review: 117-133.
Lutkepohl, H., And M. Kratzig (eds.) 2004. Applied Time Series Econometrics. New York: Cambridge University Press.
Parrado, E. 2001. Effects of foreign and domestic monetary policy in a small open economy: The case of Chile. Working papers (108). Central Bank of Chile.
Ramaswamy, R., and T. Sloek. 1997. The real effects of monetary policy in the European Union: What are the differences? IMF Working Paper (97/160).
Ramey, V. A. 1993. How important is the credit channel in the transmission of monetary policy? NBER Working Paper Series. Massachusetts Avenue, Cambridge.
Reichenstein, W. 1987. The impact of money on short-term interest rates. Economic Inquiry 25: 67-82.
Sellin, P. 2001. Monetary policy and the stock market: theory and empirical evidence. Journal of Economic Surveys 15: 491-541.
Sim, C. A, and T. Zha. 2005. Does monetary policy generate recession? Macroeconomic Dynamics 14: 1-42.
Tang, H. C. 2006. The relative important of monetary policy transmission channels in Malaysia. CAMA Working Paper Series. The Australian National University.
Umizaki, S. 2007. Monetary policy in a small open economy: The case of Malaysia. The Developing Economics XLV (4): 437-464.
Zaidi, M. A. S., and L. A. Fisher. 2010. Monetary policy and foreign shocks: A SVAR analysis for Malaysia. Korea and the World Economy 1 (3): 527-550.
Refbacks
- There are currently no refbacks.
Copyright (c)