Exchange Rate Regimes and the Effects of Monetary Policy in a Small Open Economy- A SVAR Model for the Taiwanese Economy
| Autor: | Ni-Na Tsai, 蔡妮娜 |
|---|---|
| Rok vydání: | 2004 |
| Druh dokumentu: | 學位論文 ; thesis |
| Popis: | 92 For a small open economy like Taiwan it is highly impossible for being able to be free from international economic disturbances. This thesis employs a structural vector auto regressive (SVAR) model to investigate policy performance for the Taiwanese economy under exchange rate regimes. Experiments were made using the estimated SVAR model to simulate policy shocks and various foreign economic shocks. Typical impulse response function analysis and forecast error decomposition were then used to evaluate the model performance for alternate shocks. This thesis has two major conclusions. First, monetary policy performs better under fixed exchange regime than it is under managed-float regime. Second, the Taiwanese model insulated foreign disturbances better under floating exchange rate regime than was in pegged exchange rate regime. |
| Databáze: | Networked Digital Library of Theses & Dissertations |
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