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Inter-forecast monetary policy implementation: responding to unexpected exchange rate movements

Author

Listed:
  • Ben Hunt
  • Adrian Orr

    (Reserve Bank of New Zealand)

Abstract

This article addresses the question: `how should movements in the exchange rate be taken into account in day-to -day policy implementation?

Suggested Citation

  • Ben Hunt & Adrian Orr, 1999. "Inter-forecast monetary policy implementation: responding to unexpected exchange rate movements," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 62, March.
    • Handle: RePEc:nzb:nzbbul:march1999:4
    as

    Download full text from publisher

    File URL: http://www.rbnz.govt.nz/-/media/ReserveBank/Files/Publications/Bulletins/1999/1999mar62-1HuntOrr.pdf
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    References listed on IDEAS

    as
    1. Duguay, Pierre, 1994. "Empirical evidence on the strength of the monetary transmission mechanism in Canada: An aggregate approach," Journal of Monetary Economics, Elsevier, vol. 33(1), pages 39-61, February.
    2. Richard Dennis, 1997. "A measure of monetary conditions," Reserve Bank of New Zealand Discussion Paper Series G97/1, Reserve Bank of New Zealand.
    3. Adrian Orr & Alasdair Scott & Bruce White, 1998. "The exchange rate and inflation targeting," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 61, September.
    4. Mike Frith & Aaron Drew, 1998. "Forecasting at the Reserve Bank of New Zealand," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 61, December.
    5. Aaron Drew & Ben Hunt, 1998. "The Forecasting and Policy System: stochastic simulations of the core model," Reserve Bank of New Zealand Discussion Paper Series G98/6, Reserve Bank of New Zealand.
    6. Paul Conway & Aaron Drew & Ben Hunt & Alasdair Scott, 1998. "Exchange rate effects and inflation targeting in a small open economy: a stochastic analysis using FPS," Reserve Bank of New Zealand Discussion Paper Series G99/4, Reserve Bank of New Zealand.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Mr. Jonathan F Manning & Maral Shamloo, 2015. "A Financial Conditions Index for Greece," IMF Working Papers 2015/220, International Monetary Fund.
    2. Aaron Drew & Benjamin Hunt, 2000. "A comparison of the properties of NZM and FPS," Reserve Bank of New Zealand Discussion Paper Series DP2000/02, Reserve Bank of New Zealand.
    3. Kevin Clinton, 2001. "On Commodity-Sensitive Currencies and Inflation Targeting," Staff Working Papers 01-3, Bank of Canada.

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