publication . Article . 2007

MANAGED FLOAT EXCHANGE RATE SYSTEM: THE SINGAPORE EXPERIENCE

HOE EE KHOR; JASON LEE; EDWARD ROBINSON; SAKTIANDI SUPAAT;
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  • Published: 01 Jan 2007 Journal: The Singapore Economic Review, volume 52, pages 7-25 (issn: 0217-5908, eissn: 1793-6837, Copyright policy)
  • Publisher: World Scientific Pub Co Pte Lt
Abstract
<jats:p> This paper examines the key characteristics of Singapore's exchange rate-centered monetary policy; in particular, its managed float regime which incorporates key features of the basket, band and crawl system popularized by Williamson (1998, 1999). We assess how the flexibility accorded by this framework has been advantageous in facilitating adjustment to various shocks to the economy. A characterization of the countercyclical nature of Singapore's exchange rate policy is also offered, with reference to recent work on the monetary policy reaction function and estimates of Singapore's behavioral equilibrium exchange rate. We also review previous econometr...
Subjects
free text keywords: Exchange rates, inflation, volatility, monetary policy rules, Singapore, Economics and Econometrics, Econometric analysis, Monetary policy, Spillover effect, Monetary economics, Macroeconomics, Economics, Monetary policy reaction function, Inflation, media_common.quotation_subject, media_common, Exchange rate, International trade, business.industry, business, Volatility (finance), Managed float regime
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publication . Article . 2007

MANAGED FLOAT EXCHANGE RATE SYSTEM: THE SINGAPORE EXPERIENCE

HOE EE KHOR; JASON LEE; EDWARD ROBINSON; SAKTIANDI SUPAAT;