Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
5089642 | Journal of Banking & Finance | 2012 | 13 Pages |
Abstract
⺠This paper reexamines the Taylor rule models for real exchange rate determination. ⺠We assume the agents know the time-varying parameters in central bank policy rules. ⺠Empirical results of the regime-switching model is better than fixed-regime model. ⺠Our findings show the importance of accounting for the expectation formation effect.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Shiu-Sheng Chen, Yu-Hsi Chou,