Studie
Monetary Policy and the Exchange Rate in Norway
This study estimates how monetary policy impacts the exchange rate in Norway using a local projection instrumental variables framework. It finds that a surprise increase in Norway's policy interest rate leads to an immediate appreciation of the currency followed by a gradual depreciation, with the exchange rate normalizing within three months. Similar but opposite effects are observed with the Euro zone's monetary policy. It also explores the effects of Norges Bank's long-term monetary policy projections on the exchange rate.
Publisert
Eier
Norges Bank
Forfatter
Mathis Mæhlum
Språk
engelsk
Kilde
ISBN
9788283793567
Tema
økonomi