355
Views
2
CrossRef citations to date
0
Altmetric
Research articles

Monetary policy implementation and uncovered interest parity: Empirical evidence from Oceania

&
Pages 209-229 | Received 01 Jul 2009, Accepted 01 Jan 2011, Published online: 27 Apr 2011

References

  • Alexius , A. 2001 . Uncovered interest rate parity revisited . Review of International Economics , 9 : 505 – 517 .
  • Archer , D. , Brookes , A. and Reddell , M. 1999 . A cash rate system for implementing monetary policy . Reserve Bank of New Zealand Bulletin , 62 ( 1 ) : 51 – 61 .
  • Bank for International Settlements . 2007 . “ Triennial Central Bank Survey of Foreign Exchange and Derivatives Market Activity ” . Retrieved January 15, 2008, from http://www.bis.org/publ/rpfxf07t.htm
  • Burnside , C. , Eichenbaum , M. , Kleshchelski , I. and Rebelo , S. 2008 . “ Do peso problems explain the returns to the carry trade? Unpublished paper ” . In BIS Quarterly Review
  • Chinn , M. and Meredith , G. 2004 . Monetary policy and long horizon uncovered interest rate parity . IMF Staff Papers , 51 ( 3 ) : 409 – 430 .
  • Chow , G. C. 1960 . Tests of equality between sets of coefficients in two linear regressions . Econometrica , 28 ( 3 ) : 591 – 605 .
  • Economist . 2007 . Carry on speculating . 24 February 2007 ,
  • Engel , C. 1996 . The forward discount anomaly and the risk premium: A survey of recent evidence . Journal of Empirical Finance , 3 : 123 – 192 .
  • Fama , E. 1984 . Forward and spot exchange rates . Journal of Monetary Economics , 14 ( 3 ) : 319 – 338 .
  • Froot , K. and Thaler , R. 1990 . Anomalies: Foreign exchange . Journal of Economic Perspectives , 4 ( 3 ) : 179 – 192 .
  • Galati , G. and Melvin , M. 2004 . “ Why has FX trading surged? Explaining the 2004 triennial survey ” . In BIS Quarterly Review, December 67 – 74 .
  • Guender , A. and Oh , D. Y. 2006 . Price stability through price-level targeting or inflation targeting? A tale of two experiments . Journal of Economics and Business , 58 : 373 – 391 .
  • Guender , A. 2010 . “ CPI inflation targeting: An appraisal ” . In Unpublished Manuscript, University of Canterbury
  • Guthrie , G. and Wright , J. 2000 . Open mouth operations . Journal of Monetary Economics , 46 ( 2 ) : 489 – 516 .
  • Hodrick , R. J. 1987 . The empirical evidence on the efficiency of forwards and futures in foreign exchange markets , Chur, Switzerland and Harwood, New York : Academic Publishers .
  • Hodrick , R. J. and Srivastava , S. 1984 . An investigation of risk and return in forward foreign exchange . Journal of International Money and Finance , 3 ( 1 ) : 5 – 29 .
  • Hodrick , R. J. and Srivastava , S. 1986 . The covariation of risk premiums and expected future spot exchange rates . Journal of International Money and Finance , 5 : S5 – 21 .
  • King , A. 1998 . Uncovered interest rate parity: New Zealand's post-regulation experience . Applied Financial Economics , 8 : 495 – 503 .
  • Lewis , K. K . 1995 . “ Puzzles in international financial markets ” . In Handbook of international economics (vol. III, pp. 1913–1971) , Edited by: Grossman , G. M. and Rogoff , K. Amsterdam : North-Holland .
  • Lothian , J. and Wu , L. 2005 . “ Uncovered interest rate parity over the past two centuries ” . In CRIF Working Paper 05001 , Fordham University .
  • McCallum , B. T. 1994 . A reconsideration of the uncovered interest parity relationship . Journal of Monetary Economics , 33 : 105 – 132 .
  • Mussa , M. 1979 . “ Empirical regularities in the behaviour of exchange rates and theories of the foreign exchange market ” . In Policies for employment, prices, and exchange rates , Edited by: Brunner , K. and Meltzer , A. H. Vol. 11 , 9 – 57 . Carnegie Rochester Conference Series on Public Policy .
  • Razzak , W. 2002 . The forward rate unbiasedness hypothesis revisited . International Journal of Finance and Economics , 7 : 293 – 308 .
  • Reddell , M. 1999 . Origins and early development of the inflation target . Reserve Bank of New Zealand Bulletin , 62 ( 3 ) : 63 – 71 .
  • Sarno , L. and Taylor , M. P. 2002 . The economics of exchange rates , Cambridge : Cambridge University Press .
  • Sherwin , M. 1999 . Strategic choices in inflation targeting: The New Zealand experience . Reserve Bank of New Zealand Bulletin , 62 ( 2 ) : 73 – 88 .

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.