Inflation announcements and asymmetric exchange rate responses
Michael Arghyrou () and
Panayiotis Pourpourides ()
Journal of International Financial Markets, Institutions and Money, 2016, vol. 40, issue C, 80-84
Previous literature has documented but not yet explained asymmetric exchange rate responses to unanticipated inflation announcements under a credible inflation-targeting regime. We present a theoretical model explaining the reported asymmetries in exchange-rate responses based on asymmetries in monetary policy preferences.
Keywords: Exchange rate; Inflation announcements; Monetary policy; Asymmetry (search for similar items in EconPapers)
JEL-codes: E52 F31 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:intfin:v:40:y:2016:i:c:p:80-84
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