The asymmetric effects of monetary policy in four Asian economies.
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...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English English |
| Published: |
Universiti Putra Malaysia
2008
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| Online Access: | http://psasir.upm.edu.my/id/eprint/17018/1/The%20asymmetric%20effects%20of%20monetary%20policy%20in%20four%20Asian%20economies.pdf |