Is the monetary policy rule responsive to exchange rate changes? The case of Indonesia, Malaysia, the Philippines, and Thailand

Ball L (1999) Policy rules for open economies. In: Taylor JB (ed) Monetary policy rules. University of Chicago Press, Chicago, pp 127–144

Chadha JS, Sarno L, Valente G (2004) Monetary policy rules, asset prices, and exchange rates. IMF Staff Pap 51:529–552

Chang HS (2005) Estimating the monetary policy reaction function for Taiwan: a VAR model. Int J Appl Econ 2:50–61

Gali J, Gertler M (2007) Macroeconomic modeling for monetary policy evaluation. J Econ Perspect 21:25–46

Hayford MD, Malliaris AG (2004) Monetary policy and the U.S. stock market. Econ Inquiry 42:387–401

Hodrick RJ, Prescott EC (1997) Postwar U.S. business cycles: an empirical investigation. J Money Credit Bank 29:1–16

Hsing Y (2004) Estimating the Bank of Japan’s monetary policy reaction function. Banca Naz Lavoro Quart Rev 57:169–183

Hsing Y (2005) Did U.S. monetary policy respond to exchange rates, long-term interest rates, and the unemployment rate gap? Int Trade J 19:67–82

Hsing Y, Lee SH (2004) Estimating the Bank of Korea’s monetary policy reaction function: new evidence and implications. J Kor Econ 5:1–16

Kontonikas A, Ioannidis C (2005) Should monetary policy respond to asset price misalignments? Econ Model 22:1105–1121

Lubik TA, Schorfheide F (2007) Do central banks respond to exchange rate movements? A structural investigation. J Monet Econ 54:1069–1087

Mehra YP, Minton BD (2007) A Taylor rule and the Greenspan era. Federal Reserve Bank Richmond Econ Quart 93:229–250

Obstfeld M, Rogoff K (1995) The mirage of fixed exchange rates. J Econ Perspect 9:73–96

Peel DA, Paya I, Venetis I (2004) Estimates of US monetary policy rules with allowance for changes in the output gap. Appl Econ Lett 11:601–605

Petersen K (2007) Does the Federal Reserve follow a non-linear Taylor rule? University of Connecticut, Department of Economics, Working Papers: 2007–2037

Svensson LEO (2000) Open-economy inflation targeting. J Int Econ 50:155–183

Taylor JB (1993) Discretion versus policy rules in practice. Carnegie-Rochester Conf Ser Public Pol 39:195–214

Taylor JB (1999) A historical analysis of monetary policy rules. In: Taylor JB (ed) Monetary policy rules. University of Chicago Press, Chicago, pp 319–341

Taylor JB (2001) The role of the exchange rate in monetary-policy rules. Am Econ Rev 91:263–267

Taylor MP, Davradakis E (2006) Interest rate setting and inflation targeting: evidence of a nonlinear Taylor rule for the United Kingdom. Stud Nonlinear Dynam Econometrics 10:1–29

Valente G (2003) Monetary policy rules and regime shifts. Appl Finan Econ 13:525–535

Wang SZ, Handa J (2007) Monetary policy rules under a fixed exchange rate regime: empirical evidence from China. Appl Finan Econ 17:941–950

Woodford M (2007) The case for forecast targeting as a monetary policy strategy. J Econ Perspect 24:3–24