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About Jose Sanchez Fung - Estimating The Reaction Function of The Monetary Policy in DR
This document estimates a monetary policy reaction function for the Central Bank of the Dominican Republic (CBDR). It finds that the CBDR has historically targeted the exchange rate in its policy decisions. This is consistent with other evidence that developing countries tend to "fear floating" their exchange rates. The estimated reaction function provides useful information about the CBDR's policy stance in different time periods, with monetary base growth below the rule implying better macroeconomic performance and above implying worse performance.
Detailed Information
| Author: | ['Anderson Torres'] |
|---|---|
| Publication Year: | 2020 |
| Pages: | 16 |
| Language: | English |
| Format: | |
| Price: | FREE |
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