Singapore : selected issues.

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Bibliographic Details
Imprint:Washington : International Monetary Fund, 2013.
Description:1 online resource (12 pages) : illustrations
Language:English
Series:IMF Country Reports ; 13/327
IMF country report ; no. 13/327.
Subject:
Format: E-Resource Book
URL for this record:http://pi.lib.uchicago.edu/1001/cat/bib/12502433
Hidden Bibliographic Details
Other authors / contributors:International Monetary Fund.
ISBN:9781475515152
1475515154
9781475520743
Notes:Online resource; title from PDF title page (ebrary, viewed January 19, 2014).
Summary: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.

MARC

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520 3 |a 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. 
505 0 |a Cover; CONTENTS; RESTRUCTURING TO RAISE PRODUCTIVITY; SOME OBSERVATIONS ON SINGAPORE'S MONETARY POLICY FRAMEWORK; A. Monetary Policy Reaction Function; B. Managing the REER; SINGAPORE'S EDUCATION-AUGMENTED LABOR SUPPLY. 
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