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Exchange-rate policy and monetary information

Publication ,  Journal Article
Kimbrough, KP
Published in: Journal of International Money and Finance
January 1, 1983

This paper develops a model of a small open economy in which the presence of local deviations from purchasing power parity give rise to differential information. It is assumed that the monetary authorities are committed to buy and sell foreign exchange in order to support an exchange-rate policy rule. It is demonstrated that exchange-rate policy can influence the distribution of real output (i) if agents possess incomplete and differential information and (ii) if they have contemporaneous money supply (or balance of payments) information. It is also shown that exchange-rate policy can be effective because of its ability to influence the information content of available monetary data. The argument is turned around and used to support the frequent release of monetary data. © 1983 Butterworth & Co (Publishers) Ltd.

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Published In

Journal of International Money and Finance

DOI

ISSN

0261-5606

Publication Date

January 1, 1983

Volume

2

Issue

3

Start / End Page

333 / 346

Related Subject Headings

  • Finance
  • 3801 Applied economics
  • 3502 Banking, finance and investment
  • 1502 Banking, Finance and Investment
  • 1403 Econometrics
  • 1402 Applied Economics
 

Citation

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Kimbrough, K. P. (1983). Exchange-rate policy and monetary information. Journal of International Money and Finance, 2(3), 333–346. https://doi.org/10.1016/S0261-5606(83)80007-2
Kimbrough, K. P. “Exchange-rate policy and monetary information.” Journal of International Money and Finance 2, no. 3 (January 1, 1983): 333–46. https://doi.org/10.1016/S0261-5606(83)80007-2.
Kimbrough KP. Exchange-rate policy and monetary information. Journal of International Money and Finance. 1983 Jan 1;2(3):333–46.
Kimbrough, K. P. “Exchange-rate policy and monetary information.” Journal of International Money and Finance, vol. 2, no. 3, Jan. 1983, pp. 333–46. Scopus, doi:10.1016/S0261-5606(83)80007-2.
Kimbrough KP. Exchange-rate policy and monetary information. Journal of International Money and Finance. 1983 Jan 1;2(3):333–346.
Journal cover image

Published In

Journal of International Money and Finance

DOI

ISSN

0261-5606

Publication Date

January 1, 1983

Volume

2

Issue

3

Start / End Page

333 / 346

Related Subject Headings

  • Finance
  • 3801 Applied economics
  • 3502 Banking, finance and investment
  • 1502 Banking, Finance and Investment
  • 1403 Econometrics
  • 1402 Applied Economics