Exchange Market Pressure and Monetary Policy
Published By: BB on eSS | Published Date: December, 29 , 2005The objective of this study is to examine empirically the impact of monetary policy on exchange market pressure (EMP) in Bangladesh. EMP is measured as the sum of percentage change of international reserves scaled by the monetary base and nominal exchange rate appreciation.Domestic credit, the domestic component of monetary base, which is considered as the variable directly controlled by policy makers is used as measure of monetary policy.
Author(s): Sayera Younus | Posted on: Jan 29, 2010 | Views(1339) | Download (1132)