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Sources of fluctuations in parallel exchange rates and policy reform in Myanmar
https://doi.org/10.20561/00037781
https://doi.org/10.20561/0003778177bf64df-12df-4417-bc27-62126455df2e
| 名前 / ファイル | ライセンス | アクション |
|---|---|---|
本文 (473.1 kB)
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| Item type | アジ研テクニカルレポート / IDE Technical Report(1) | |||||
|---|---|---|---|---|---|---|
| 公開日 | 2013-08-19 | |||||
| タイトル | ||||||
| タイトル | Sources of fluctuations in parallel exchange rates and policy reform in Myanmar | |||||
| 言語 | ||||||
| 言語 | eng | |||||
| 資源タイプ | ||||||
| 資源タイプ識別子 | http://purl.org/coar/resource_type/c_18gh | |||||
| 資源タイプ | technical report | |||||
| ID登録 | ||||||
| ID登録 | 10.20561/00037781 | |||||
| ID登録タイプ | JaLC | |||||
| 著者 |
Kubo, Koji
× Kubo, Koji |
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| 著者別名 | ||||||
| 久保, 公二 | ||||||
| 抄録 | ||||||
| 内容記述タイプ | Abstract | |||||
| 内容記述 | Myanmar maintained a multiple exchange rate system, and the parallel market exchange rate was left untamed. In the last two decades, the Myanmar kyat exchange rate of the parallel market has exhibited the sharpest fluctuations among Southeast Asian currencies in real terms. Since the move to a managed float regime in April 2012, the question arises of whether exchange rate policies will be effective in stabilizing the real exchange rate. This paper investigates the sources of fluctuations in the real effective exchange rate using Blanchard and Quah’s (1989) structural vector autoregression model. As nominal shocks can be created by exchange rate policies, a persistent impact of a nominal shock implies more room for exchange rate policies. Decomposition of the fluctuations into nominal and real shocks indicates that the impact of nominal shocks is small and quickly diminishes, implying that complementary sterilization is necessary for effective foreign exchange market interventions. | |||||
| 権利 | ||||||
| 権利情報 | Copyrights 日本貿易振興機構（ジェトロ）アジア経済研究所 / Institute of Developing Economies, Japan External Trade Organization (IDE-JETRO) http://www.ide.go.jp | |||||
| 収録情報 |
IDE Discussion Paper en : IDE Discussion Paper 巻 388, 発行日 2013-02-01 |
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| 出版者 | ||||||
| 出版者 | Institute of Developing Economies (IDE-JETRO) | |||||
| 著者版フラグ | ||||||
| 出版タイプ | VoR | |||||
| 出版タイプResource | http://purl.org/coar/version/c_970fb48d4fbd8a85 | |||||
| 日本十進分類法 | ||||||
| 主題Scheme | NDC | |||||
| 主題 | 338.95 | |||||
| JEL分類 | ||||||
| 主題Scheme | Other | |||||
| 主題 | JEL:F31 - Foreign Exchange | |||||
| JEL分類 | ||||||
| 主題Scheme | Other | |||||
| 主題 | JEL:F41 - Open Economy Macroeconomics | |||||
| JEL分類 | ||||||
| 主題Scheme | Other | |||||
| 主題 | JEL:O53 - Asia including Middle East | |||||
| 地域/国名 | ||||||
| 位置情報（自由記述） | ミャンマー | |||||
| キーワード(LSH) | ||||||
| 主題Scheme | Other | |||||
| 主題 | Myanmar | |||||
| キーワード(LSH) | ||||||
| 主題Scheme | Other | |||||
| 主題 | Foreign exchange | |||||
| キーワード(LSH) | ||||||
| 主題Scheme | Other | |||||
| 主題 | Real and nominal effective exchange rates | |||||
| キーワード(LSH) | ||||||
| 主題Scheme | Other | |||||
| 主題 | Structural VAR | |||||
| フォーマット | ||||||
| 内容記述タイプ | Other | |||||
| 内容記述 | application/pdf | |||||
| DIG_NO | ||||||
| 内容記述タイプ | Other | |||||
| 内容記述 | IDP000388_001 | |||||
