Format:
Online-Ressource (11 p)
Edition:
Online-Ausg.
ISBN:
1475520743
,
9781475520743
Series Statement:
IMF Staff Country Reports Country Report No. 13/327
Content:
This Selected Issues Paper discusses some observations on Singapore's monetary policy framework. Singapore's monetary policy uses the nominal effective exchange rate (NEER) as the instrument in a basket-band-crawl framework. The paper finds that under some conditions an exchange rate-based monetary policy may not be detrimental to external competitiveness. A key parameter is the weight of imports in the consumer basket or production function. Tightening monetary policy through a nominal appreciation helps to dampen imported cost pressures. In addition, nominal appreciation can reduce domestic sources of inflation by lowering demand for local factors of production
Additional Edition:
Erscheint auch als Druck-Ausgabe Singapore: Selected Issues Washington, D.C. : International Monetary Fund, 2013 ISBN 9781475520743
Language:
English
DOI:
10.5089/9781475520743.002
