Financial, Exchange Rate, and Wage Policies in Singapore, 1979-1886.

This paper discusses the unique aspects of Singapore's financial, exchange rate, and wage policies during the period 1979-86, and attempts to quantify the impact of alternative policies on major macroeconomic variables. For this purpose, a simple short-term model is formulated and estimated, an...

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Bibliographic Details
Corporate Author: International Monetary Fund
Format: Journal
Language:English
Published: Washington, D.C. : International Monetary Fund, 1988.
Series:IMF Working Papers; Working Paper ; No. 1988/012
Online Access:Full text available on IMF
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245 1 0 |a Financial, Exchange Rate, and Wage Policies in Singapore, 1979-1886. 
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520 3 |a This paper discusses the unique aspects of Singapore's financial, exchange rate, and wage policies during the period 1979-86, and attempts to quantify the impact of alternative policies on major macroeconomic variables. For this purpose, a simple short-term model is formulated and estimated, and various policy simulations conducted. It is found that the wage policy pursued by the authorities in the early 1980s played a significant role in influencing output and prices and that an appropriate wage policy is complementary to exchange rate policy in maintaining external competitiveness in Singapore. 
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