Exchange Rate Determination Under Monetary Policy Rules in a Financially Underdeveloped Economy: A Simple Model and Application to Mozambique
Felix Simione () and
Shakill Hassan
Authors registered in the RePEc Author Service: Vo Phuong Mai Le
No 192, Working Papers from Economic Research Southern Africa
Abstract:
Microstructure aspects of nominal exchange rate determination are less relevant in countries with embryonic financial markets. In less-developed economies, trade in goods and services is a more significant driver of currency demand than financial market speculation or hedging; and central banks actively set monetary variables. We develop a simple variation of the standard monetary model […]
Date: 2010-09-01
New Economics Papers: this item is included in nep-cba, nep-mac, nep-mon and nep-opm
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Journal Article: EXCHANGE RATE DETERMINATION UNDER MONETARY POLICY RULES IN A FINANCIALLY UNDERDEVELOPED ECONOMY: A SIMPLE MODEL AND APPLICATION TO MOZAMBIQUE (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:rza:wpaper:192
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