The asymmetric effects of monetary policy in four Asian economies.

Citation

Tan, Siow Hooi and Habibullah, Muzafar Shah and Smith, Peter (2008) The asymmetric effects of monetary policy in four Asian economies. International Applied Economics and Management Letters, 1 (1). pp. 1-7.

Abstract

The idea that the effectiveness of monetary policy measures may depend on the state of the economy is examined for four Asian economies using a generalized Hamilton Markov switching model of output due to Garcia and Schaller (2002). The null hypothesis of symmetry is rejected for these economies and monetary policy is seen to have larger effects during downturns than during upswings.

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Additional Metadata

Item Type:	Article
Divisions:	Faculty of Economics and Management
Publisher:	Universiti Putra Malaysia
Keywords:	Monetary policy; Asymmetric effects; Markov switching model, Asian economies.
Depositing User:	Emelda Mohd Hamid
Date Deposited:	18 Oct 2013 04:27
Last Modified:	21 Jan 2016 01:32
URI:	http://psasir.upm.edu.my/id/eprint/17018
Statistic Details:	View Download Statistic

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