Exchange Market Pressure and Central Bank Policy: An Application of the Girton and Roper Monetary Model in the SEACEN Countries

Beoy Kui Ng

in Staff Papers from South East Asian Central Banks (SEACEN) Research and Training Centre

Abstract: This paper aims to study the reaction of the SEACEN countries to external shocks during the period 1970-1984. It examines the rationales underlying the choice of various policy options adopted by the SEACEN countries. In effect, the study revolves around the basic question of whether a further development of the existing foreign exchange market will increase the policy options, and thereby help improve the effectiveness of exchange rate and monetary policies in mitigating external shocks.

Date: 1988
ISBN: 983-9553-17-8
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Persistent link: https://EconPapers.repec.org/RePEc:sea:spaper:sp29

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