References
- Ball , L. 1999 . “Policy rules for open economies,” . In Monetary Policy Rules. , Edited by: Taylor , John . Chicago : University of Chicago Press .
- Dennis , R. 1997 . “A monetary conditions index for New Zealand,” , Discussion Paper G97/1 Reserve Bank of New Zealand .
- Ericsson , N. , Jansen , S. , Kerbeshian , N. and Nymoen , R. 1997 . “Understanding a monetary conditions index,” . Federal Reserve Board . mimeo
- Hampton , T. 2001 . “ How much do import prices matter for consumer prices?,” , Discussion Paper 2001/06 Reserve Bank of New Zealand .
- Hunt , B. 1999 . “Inter‐forecast monetary policy implementation: fixed‐instrument vs MCI‐based strategies,” , Discussion Paper G99/1 Reserve Bank of New Zealand .
- Mayes , D. and Viren , M. 2000 . “The exchange rate and monetary conditions in the Euro area,” . Weltwirtschaftliches Archiv, , 136 : 199 – 231 .
- Nadal‐De Simone , F. 2001 . “ Inflation targeting in a small open economy: the behaviour of price variables,” . New Zealand Economic Papers, , 35 (1) : 101 – 142 .
- Siklos , P. 1999 . “Inflation‐target design: changing inflation performance and persistence in industrial countries,” . Federal Reserve Bank of St. Louis Review, , 81 : 47 – 58 .
- Alfred V. Guender and Troy D. Matheson‐ Department of Economics, University of Canterbury, Private Bag 4800, Christchurch, New Zealand E‐mail: [email protected] and E‐mail: [email protected]
- We thank Alex Cukierman, Richard Froyen, and David Mayes for helpful discussions on the subject. We also appreciate the detailed comments by the referee. All errors are the sole responsibility of the authors.
![Supercharge Your Next Research Paper: Research and write your next paper with Jenni AI.]({"type":"image" , "src" : "/sda/112445/Skyscraper-econ.png"})