The DOI matches its Crossref record; 39 of the 39 references it cites were found in a registry or an index.
The Effect of Fixed Exchange Rates on Monetary Policy
Abstract
To investigate how a fixed exchange rate affects monetary policy, this paper classifies countries as pegged or nonpegged and examines whether a pegged country must follow the interest rate changes in the base country. Despite recent research which hints that all countries, not just pegged countries, lack monetary freedom, the evidence shows that pegs follow base country interest rates more than nonpegs. This study uses actual behavior, not declared status, for regime classification; expands the sample including base currencies other than the dollar; examines the impact of capital controls, as well as other control variables; considers the time series properties of the data carefully; and uses cointegration and other levels-relationship analysis to provide additional insights.
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Cites
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Pesaran, M. H., Shin, Y., & Smith, R. J. (2001) · Journal of Applied Econometrics · doi:10.1002/jae.616 · Cited by 20,385
Testing the null hypothesis of stationarity against the alternative of a unit root
Kwiatkowski, D., Phillips, P. C. B., Schmidt, P., & Shin, Y. (1992) · Journal of Econometrics · doi:10.1016/0304-4076(92)90104-y · Cited by 12,633
Breitung, J., & Hamilton, J. D. (1995) · Contemporary Sociology · doi:10.2307/2076916 · Cited by 10,966
(2019) · AEA Papers and Proceedings · doi:10.1257/pandp.109.612 · Cited by 10,902
The Quarterly Journal of Economics
Kuznets, S. (2024) · Business Cycle Theory, Part I Volume 4 · doi:10.4324/9781003549741-8 · Cited by 7,176
Spurious regressions in econometrics
Granger, C. W. J., & Newbold, P. (1974) · Journal of Econometrics · doi:10.1016/0304-4076(74)90034-7 · Cited by 6,200
Efficient Tests for an Autoregressive Unit Root
Elliott, G., Rothenberg, T. J., & Stock, J. H. (1996) · Econometrica · doi:10.2307/2171846 · Cited by 5,627
Efficient Tests for an Autoregressive Unit Root
Elliott, G., Rothenberg, T., & Stock, J. (1992) · National Bureau of Economic Research · doi:10.3386/t0130 · Cited by 4,231
LAG Length Selection and the Construction of Unit Root Tests with Good Size and Power
Ng, S., & Perron, P. (2001) · Econometrica · doi:10.1111/1468-0262.00256 · Cited by 3,940
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Cited by
U.S. Monetary Policy and International Risk Spillovers
Kalemli-Özcan, Ṣ. (2019) · National Bureau of Economic Research · doi:10.3386/w26297 · Cited by 298
Metadata
- Authors
- Shambaugh, J. C.
- Venue
- The Quarterly Journal of Economics
- Publisher
- Oxford University Press (OUP)
- Published
- 2004-02-01
- Volume
- 119
- Issue
- 1
- Pages
- 301-352
- ISSN
- 0033-5533 (ISSN-L)
- 1531-4650
- OpenAlex
- W2155441609
- Cited by
- 760
- References
- 39
- FWCI
- 37.52
- Type
- journal article
- Language
- en
- Open access
- closed
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Data sources
Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
