TY  - BOOK
AU  - Tanner,Evan C.
TI  - Exchange Market Pressure, Currency Crises, and Monetary Policy: Additional Evidence From Emerging Markets 
T2  - IMF Working Papers; Working Paper
SN  - 1451843135 :
SN  - 1018-5941
PY  - 2002///
CY  - Washington, D.C.
PB  - International Monetary Fund
KW  - Central Bank
KW  - imf
KW  - Currency Crisis
KW  - Exchange Market Pressure
KW  - Exchange Rate
KW  - Inflation
KW  - Macroeconomic Aspects of International Trade and Finance
KW  - Brazil
KW  - Bulgaria
N2  - This paper extends my previous work by examining the relationship between monetary policy and exchange market pressure (EMP) in 32 emerging market countries. EMP is a gauge of the severity of crises, and part of this paper specifically analyzes crisis periods. Two variables gauge the stance of monetary policy: the growth of central bank domestic credit and the interest differential (domestic versus U.S. dollar). Evidence suggests that monetary policy plays an important role in currency crises. And, in most countries the shocks to monetary policy affect EMP in the direction predicted by traditional approaches: tighter money reduces EMP
UR  - http://elibrary.imf.org/view/IMF001/02152-9781451843132/02152-9781451843132/02152-9781451843132.xml
UR  - http://www.imfbookstore.org/IMFORG/9781451843132
ER  -