Exchange Rate Pass-Through Over the Business Cycle in Singapore /

This paper investigates exchange rate pass-through in Singapore using band-pass spectral regression techniques, allowing for asymmetric effects over the business cycle. First stage pass-through is estimated to be complete and relatively quick, confirming existing views that the exchange rate provide...

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Autor principal: Tan, Siang
Altres autors: Chew, Joey, Ouliaris, Sam
Format: Revista
Idioma:English
Publicat: Washington, D.C. : International Monetary Fund, 2011.
Col·lecció:IMF Working Papers; Working Paper ; No. 2011/141
Accés en línia:Full text available on IMF
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245 1 0 |a Exchange Rate Pass-Through Over the Business Cycle in Singapore /  |c Siang Tan, Joey Chew, Sam Ouliaris. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2011. 
300 |a 1 online resource (28 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a This paper investigates exchange rate pass-through in Singapore using band-pass spectral regression techniques, allowing for asymmetric effects over the business cycle. First stage pass-through is estimated to be complete and relatively quick, confirming existing views that the exchange rate provides an effective tool to moderate imported inflation in Singapore. Asymmetric pass-through effects over the business cycle are also detected, with importers passing on a smaller share of exchange rate movements during boom periods as compared to recessions. This result suggest that Singapore's exchange rate policy could afford to "lean against the wind," especially during cyclical expansions. 
538 |a Mode of access: Internet 
700 1 |a Chew, Joey. 
700 1 |a Ouliaris, Sam. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2011/141 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2011/141/001.2011.issue-141-en.xml  |z IMF e-Library