Singapore: Selected Issues

International Monetary Fund

No 2008/281, IMF Staff Country Reports from International Monetary Fund

Abstract: This Selected Issues paper assesses the stability of Singapore’s banking system in a regional context. It proposes a novel methodology for gauging domestic financial stability. The paper assesses the impact of fiscal measures on macroeconomic activity, and analyzes the effects of monetary policy using structural vector autoregressions. Estimates show that the Monetary Authority of Singapore’s exchange rate-centered framework is well suited to shape monetary decision making, given the large impact that changes in the nominal exchange rate have on activity and prices.

Keywords: ISCR; CR; bank; exchange rate; contractionary monetary policy; bank portfolio; discretionary fiscal policy decision; banks probability; expenditure measure; bank default; Inflation; Commercial banks; Bank soundness; Consumer price indexes; Global (search for similar items in EconPapers)
Pages: 37
Date: 2008-08-13
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