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|z 9781451844283
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|a 1018-5941
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|a Hunt, Benjamin.
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|a Some Implications for Monetary Policy of Uncertain Exchange Rate Pass-Through /
|c Benjamin Hunt, Peter Isard.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2003.
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|a 1 online resource (36 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a The paper uses MULTIMOD to examine the implications of uncertain exchange rate pass-through for the conduct of monetary policy. From the policymaker's perspective, uncertainty about exchange rate pass-through implies uncertainty about policy multipliers and the impact of state variables on stabilization objectives. When faced with uncertainty about the strength of exchange rate pass-through, policymakers will make less costly errors by overestimating the strength of pass-through rather than underestimating it. The analysis suggests that pass-through uncertainty of the magnitude considered does not result in efficient policy response coefficients that are smaller than those under certainty.
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|a Mode of access: Internet
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|a Isard, Peter.
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|a IMF Working Papers; Working Paper ;
|v No. 2003/025
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2003/025/001.2003.issue-025-en.xml
|z IMF e-Library
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