Resolving Puzzles of Monetary Policy Transmission in Emerging Markets
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https://www.nber.org/papers/w33133
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资源简介：
Conventional empirical models of monetary policy transmission in emerging market economies produce puzzling results: monetary tightening often leads to an increase in prices (the price puzzle) and depreciation of the currency (the FX puzzle). We show that incorporating forward-looking expectations
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美国国家经济研究局创建时间：
2024-11-01
