Title page for etd-0518115-160449


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URN etd-0518115-160449
Author Yi-hsuan Hsieh
Author's Email Address No Public.
Statistics This thesis had been viewed 5341 times. Download 1766 times.
Department Economics
Year 2014
Semester 2
Degree Master
Type of Document
Language zh-TW.Big5 Chinese
Title Learning, Taylor Rule and Real Exchange Rate Dynamics´╝ŹThe Evidence from Taiwan
Date of Defense 2015-06-10
Page Count 63
Keyword
  • Inflation
  • Rational Expectation
  • Real Exchange Rate Model
  • Adaptive Learning
  • Taylor Rule
  • Abstract In this paper, we follow Mark(2009) to set nominal interest rates according to the Taylor rule and to assume that uncovered interest parity holds: The real exchange rate is determined by nominal interest rate differentials, expected inflation differentials and output gap differentials. In the Taylor rule, some literature emphasizes the importance of the current inflation, while others focus on the importance of the future expected inflation. Therefore, we consider both cases in the Taylor rule. Also, I investigate whether the implied learning exchange rates do a better job of matching the data than the implied rational expectations exchange rates. Our empirical results indicate that the RMSE of the forward-looking rational expectations model with the data are generally quite good relative to other models.
    Advisory Committee
  • Shu-Ling Chiang - chair
  • Yu-Hau Hu - co-chair
  • Wu,Jyh-Lin - advisor
  • Files
  • etd-0518115-160449.pdf
  • indicate access worldwide
    Date of Submission 2015-06-22

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