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Monetary policy and exchange market pressure: The case of the Philippines

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  • Gochoco-Bautista, Maria Socorro
  • Bautista, Carlos C.

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  • Gochoco-Bautista, Maria Socorro & Bautista, Carlos C., 2005. "Monetary policy and exchange market pressure: The case of the Philippines," Journal of Macroeconomics, Elsevier, vol. 27(1), pages 153-168, March.
    • Handle: RePEc:eee:jmacro:v:27:y:2005:i:1:p:153-168
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    1. Amartya Lahiri & Carlos A. Vegh, 2000. "Delaying the Inevitable: Optimal Interest Rate Policy and BOP Crises," NBER Working Papers 7734, National Bureau of Economic Research, Inc.
    2. Corsetti, Giancarlo & Pesenti, Paolo & Roubini, Nouriel, 1999. "What caused the Asian currency and financial crisis?," Japan and the World Economy, Elsevier, vol. 11(3), pages 305-373, October.
    3. Maria Socorro Gochoco-Bautista, 2001. "What Drives Monetary Policy?," UP School of Economics Discussion Papers 200105, University of the Philippines School of Economics.
    4. Mr. Evan C Tanner, 2002. "Exchange Market Pressure, Currency Crises, and Monetary Policy: Additional Evidence From Emerging Markets," IMF Working Papers 2002/014, International Monetary Fund.
    5. Flood, Robert P. & Jeanne, Olivier, 2005. "An interest rate defense of a fixed exchange rate?," Journal of International Economics, Elsevier, vol. 66(2), pages 471-484, July.
    6. Amartya Lahiri & Carlos A. Végh, 2002. "Living with the Fear of Floating: An Optimal Policy Perspective," NBER Chapters, in: Preventing Currency Crises in Emerging Markets, pages 663-704, National Bureau of Economic Research, Inc.
    7. Giancarlo Corsetti & Paolo Pesenti & Nouriel Roubini, 1998. "What Caused the Asian Currency and Financial Crisis? Part II: The Policy Debate," NBER Working Papers 6834, National Bureau of Economic Research, Inc.
    8. Taimur Baig & Ilan Goldfajn, 2002. "Monetary Policy in the Aftermath of Currency Crises: The Case of Asia," Review of International Economics, Wiley Blackwell, vol. 10(1), pages 92-112, February.
    9. Kraay, Aart, 2003. "Do high interest rates defend currencies during speculative attacks?," Journal of International Economics, Elsevier, vol. 59(2), pages 297-321, March.
    10. Boorman, Jack & Lane, Timothy & Schulze-Ghattas, Marianne & Bulir, Ales & Ghosh, Atish R. & Hamann, Javier & Mourmouras, Alex & Phillips, Steven, 2000. "Managing financial crises: the experience in East Asia," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 53(1), pages 1-67, December.
    11. Steven Radelet & Jeffrey D. Sachs, 1998. "The East Asian Financial Crisis: Diagnosis, Remedies, Prospects," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 29(1), pages 1-90.
    12. Ilan Goldfajn & Poonam Gupta, 2003. "Does Monetary Policy Stabilize the Exchange Rate Following a Currency Crisis?," IMF Staff Papers, Palgrave Macmillan, vol. 50(1), pages 1-5.
    13. Mr. Timothy D. Lane & Mrs. Marianne Schulze-Gattas & Mr. Tsidi M Tsikata & Mr. Steven T Phillips & Mr. Atish R. Ghosh & Mr. A. J Hamann, 1999. "IMF-Supported Programs in Indonesia, Korea and Thailand," IMF Occasional Papers 1999/006, International Monetary Fund.
    14. Evan Tanner, 2001. "Exchange Market Pressure and Monetary Policy: Asia and Latin America in the 1990s," IMF Staff Papers, Palgrave Macmillan, vol. 47(3), pages 1-2.
    15. Pakko, Michael R., 2000. "Do high interest rates stem capital outflows?," Economics Letters, Elsevier, vol. 67(2), pages 187-192, May.
    16. Graciela L. Kaminsky & Carmen M. Reinhart, 2001. "Bank Lending and Contagion: Evidence from the Asian Crisis," NBER Chapters, in: Regional and Global Capital Flows: Macroeconomic Causes and Consequences, pages 73-99, National Bureau of Economic Research, Inc.
    17. Ms. G. C. Lim & Guy Debelle, 1998. "Preliminary Considerations of an Inflation Targeting Framework for the Philippines," IMF Working Papers 1998/039, International Monetary Fund.
    18. Girton, Lance & Roper, Don, 1977. "A Monetary Model of Exchange Market Pressure Applied to the Postwar Canadian Experience," American Economic Review, American Economic Association, vol. 67(4), pages 537-548, September.
    19. Mr. Evan C Tanner, 1999. "Exchange Market Pressure and Monetary Policy: Asia and Latin America in the 1990s," IMF Working Papers 1999/114, International Monetary Fund.
    20. Mr. Francisco d Nadal De Simone & Weshah Razzak, 1999. "Nominal Exchange Rates and Nominal Interest Rate Differentials," IMF Working Papers 1999/141, International Monetary Fund.
    21. David M. Gould & Steven B. Kamin, 1999. "The impact of monetary policy on exchange rates during financial crises," Proceedings, Federal Reserve Bank of San Francisco, issue Sep.
    22. Mr. Atish R. Ghosh & Ms. Gabriela Basurto, 2000. "The Interest Rate-Exchange Rate Nexus in the Asian Crisis Countries," IMF Working Papers 2000/019, International Monetary Fund.
    23. Jason Furman & Joseph E. Stiglitz, 1998. "Economic Crises: Evidence and Insights from East Asia," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 29(2), pages 1-136.
    24. Chang-Jin Kim & Charles R. Nelson, 1999. "State-Space Models with Regime Switching: Classical and Gibbs-Sampling Approaches with Applications," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262112388, April.
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    Cited by:

    1. Maria Socorro Gochoco-Bautista, 2006. "An Assessment of the Usefulness of Money for Policy in the Philippines," Asian Economic Papers, MIT Press, vol. 5(1), pages 142-176, Winter.
    2. M. Idrees Khawaja, 2007. "Exchange Market Pressure and Monetary Policy: Evidence from Pakistan," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 12(2), pages 83-114, Jul-Dec.
    3. Augustine A. Boakye & Hassan Molana, 2007. "Fluctuation in the International Currency Reserves of Less Developed Countries: HIPC vs Non-HIPC," Dundee Discussion Papers in Economics 203, Economic Studies, University of Dundee.
    4. Aleksandr V. Gevorkyan, 2019. "Exchange market pressure and primary commodity – exporting emerging markets," Applied Economics, Taylor & Francis Journals, vol. 51(22), pages 2390-2412, May.
    5. Ifedolapo Olabisi Olanipekun & Hasan Güngör & Godwin Olasehinde-Williams, 2019. "Unraveling the Causal Relationship Between Economic Policy Uncertainty and Exchange Market Pressure in BRIC Countries: Evidence From Bootstrap Panel Granger Causality," SAGE Open, , vol. 9(2), pages 21582440198, June.
    6. Stavarek, Daniel, 2007. "Comparative analysis of the exchange market pressure in Central European countries with the Eurozone membership perspective," MPRA Paper 3906, University Library of Munich, Germany.
    7. Panday, Anjan, 2015. "Impact of monetary policy on exchange market pressure: The case of Nepal," Journal of Asian Economics, Elsevier, vol. 37(C), pages 59-71.
    8. Akhand Akhtar Hossain, 2015. "The Evolution of Central Banking and Monetary Policy in the Asia-Pacific," Books, Edward Elgar Publishing, number 14611.
    9. Chin, Lee & Habibullah, Muzafar Shah & Sheik Kyin, Tey, 2013. "Monetary Policy and Exchange Market Pressure in Malaysia," MPRA Paper 96862, University Library of Munich, Germany.
    10. Ratnasari, Anggraeni & Widodo, Tri, 2017. "Exchange Market Pressure and Monetary Policies in ASEAN5," MPRA Paper 81543, University Library of Munich, Germany.
    11. Ahmed M. Khalid, 2006. "Is Inflation Targeting the Best Policy Choice for Emerging Economies? A Survey of Emerging Market Experiences and Lessons for Pakistan," SBP Research Bulletin, State Bank of Pakistan, Research Department, vol. 2, pages 145-165.
    12. Ifedolapo Olabisi Olanipekun & Godwin Olasehinde-Williams & Hasan Güngör, 2019. "Impact of Economic Policy Uncertainty on Exchange Market Pressure," SAGE Open, , vol. 9(3), pages 21582440198, September.
    13. Aftab, Muhammad & Phylaktis, Kate, 2022. "Economic integration and exchange market pressure in a policy uncertain world," Journal of International Money and Finance, Elsevier, vol. 128(C).
    14. Abdul Aziz, Muhammad & Widodo, Tri, 2017. "Exchange Market Pressure: Evidences from ASEAN Inflation Targeting Countries," MPRA Paper 80919, University Library of Munich, Germany.
    15. M. Idrees Khawaja & Musleh-ud Din, 2007. "Instrument of Managing Exchange Market Pressure: Money Supply or Interest Rate," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 46(4), pages 381-394.
    16. Siklar Ilyas & Akca Aysegul, 2020. "Exchange Market Pressure and Monetary Policy: The Turkish Case," Ekonomika (Economics), Sciendo, vol. 99(1), pages 110-130, June.
    17. Clara GARCÍA & Nuria MALET, 2007. "Exchange Market Pressure, Monetary Policy, And Economic Growth: Argentina, 1993–2004," The Developing Economies, Institute of Developing Economies, vol. 45(3), pages 253-282, September.

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