The changing role of the yen/dollar exchange rate for japanese monetary policy

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dc.contributor Universität <Tübingen> / Wirtschaftswissenschaftliches Seminar de_DE
dc.contributor.author Schnabl, Gunther de_DE
dc.contributor.author Danne, Christian de_DE
dc.date.accessioned 2005-07-21 de_DE
dc.date.accessioned 2014-03-18T10:02:05Z
dc.date.available 2005-07-21 de_DE
dc.date.available 2014-03-18T10:02:05Z
dc.date.issued 2005 de_DE
dc.identifier.other 119478404 de_DE
dc.identifier.uri http://nbn-resolving.de/urn:nbn:de:bsz:21-opus-18197 de_DE
dc.identifier.uri http://hdl.handle.net/10900/47343
dc.description.abstract This paper studies the role of the yen/dollar exchange rate in the Bank of Japan’s monetary policy reaction function. In contrast to prior estimations of reaction functions based on the Taylor-rule, we allow for regime shifts by estimating rolling coefficients from January 1974 to March 1999. The results show a temporary impact of the exchange rate on monetary policy around 1978/79 and a persistently increasing impact of the yen/dollar exchange rate after 1986. The ris ing importance of the yen/dollar exchange rate for Japanese monetary policy is in line with increasing efforts to stabilize the yen/dollar exchange rate by foreign exchange intervention after March 1999, when the nominal interest rate reached the zero boundary. en
dc.language.iso en de_DE
dc.publisher Universität Tübingen de_DE
dc.rights ubt-podno de_DE
dc.rights.uri http://tobias-lib.uni-tuebingen.de/doku/lic_ohne_pod.php?la=de de_DE
dc.rights.uri http://tobias-lib.uni-tuebingen.de/doku/lic_ohne_pod.php?la=en en
dc.subject.classification Japan , Geldpolitik de_DE
dc.subject.ddc 330 de_DE
dc.subject.other Japan , Monetary Policy Reaction Function , Bank of Japan , Interest Rate Rules , Exchange Rates en
dc.title The changing role of the yen/dollar exchange rate for japanese monetary policy en
dc.type ResearchPaper de_DE
utue.publikation.fachbereich Wirtschaftswissenschaften de_DE
utue.publikation.fakultaet 6 Wirtschafts- und Sozialwissenschaftliche Fakultät de_DE
dcterms.DCMIType Text de_DE
utue.publikation.typ workingPaper de_DE
utue.opus.id 1819 de_DE
utue.opus.portal wiwidisk de_DE
utue.opus.portalzaehlung 290.00000 de_DE
utue.publikation.source Tübinger Diskussionsbeiträge der Wirtschaftswissenschaftlichen Fakultät ; 290 de_DE
utue.publikation.reihenname Tübinger Diskussionsbeitrag de_DE
utue.publikation.zsausgabe 290
utue.publikation.erstkatid 2136475-8

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