Application of the monetary policy function to output fluctuations in Bangladesh

Yu Hsing, A. M. M. Jamal () and Wen-jen Hsieh ()
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Yu Hsing: Southeastern Louisiana University
A. M. M. Jamal: Southeastern Louisiana University
Wen-jen Hsieh: National Cheng Kung University

Economics Bulletin, 2009, vol. 29, issue 3, 2113-2122

Abstract: Applying the monetary policy function, this paper finds that real GDP in Bangladesh is positively associated with real deprecation, real financial stock price, and world output and negatively influenced by the world real interest rate. The coefficient of the ratio of government consumption spending to nominal GDP is insignificant, suggesting that expansionary fiscal policy may not be effective.

Keywords: monetary policy function; fiscal policy; real depreciation; stock price; world interest rate (search for similar items in EconPapers)
JEL-codes: O1 (search for similar items in EconPapers)
Date: 2009-08-26
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