Domestic Macroeconomic Adjustment to Oil Price Shocks Under Different Exchange Rate Regimes in Malaysia
This study examined the insulation properties of flexible exchange rate regime and fixed exchange rate regime in response to the oil price shocks in Malaysia. A monthly time series data for the period 1980- 2005 was used to examine whether the response of output, exchange rate and price levels to th...
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2007
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my.uum.repo.306342024-03-24T08:43:37Z https://repo.uum.edu.my/id/eprint/30634/ Domestic Macroeconomic Adjustment to Oil Price Shocks Under Different Exchange Rate Regimes in Malaysia Furuoka, Fumitaka Wong, Hock Tsen Chong, Hui Ing Ting, Siew King HC Economic History and Conditions This study examined the insulation properties of flexible exchange rate regime and fixed exchange rate regime in response to the oil price shocks in Malaysia. A monthly time series data for the period 1980- 2005 was used to examine whether the response of output, exchange rate and price levels to the oil price shocks were different across the exchange rate regimes. For this purpose, this study employed the structural vector autoregressive model. Empirical results indicated that the short-run output responses to the oil price shocks are smoother under the flexible exchange rate regime compared to the situation under the fixed exchange rate regime. Universiti Utara Malaysia Press 2007 Article PeerReviewed application/pdf en cc4_by https://repo.uum.edu.my/id/eprint/30634/1/MMJ%2011%201%262%202007%201-10.pdf Furuoka, Fumitaka and Wong, Hock Tsen and Chong, Hui Ing and Ting, Siew King (2007) Domestic Macroeconomic Adjustment to Oil Price Shocks Under Different Exchange Rate Regimes in Malaysia. Malaysian Management Journal (MMJ), 11 (1&2). pp. 1-10. ISSN 0128-6226 https://e-journal.uum.edu.my/index.php/mmj/article/view/8944 10.32890/mmj 10.32890/mmj 10.32890/mmj |
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HC Economic History and Conditions Furuoka, Fumitaka Wong, Hock Tsen Chong, Hui Ing Ting, Siew King Domestic Macroeconomic Adjustment to Oil Price Shocks Under Different Exchange Rate Regimes in Malaysia |
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This study examined the insulation properties of flexible exchange rate regime and fixed exchange rate regime in response to the oil price shocks in Malaysia. A monthly time series data for the period 1980- 2005 was used to examine whether the response of output, exchange rate and price levels to the oil price shocks were different across the exchange rate regimes. For this purpose, this study employed the structural vector autoregressive model. Empirical results indicated that the short-run output responses to the oil price shocks are smoother under the flexible exchange rate regime compared to the situation under the fixed exchange rate regime. |
format |
Article |
author |
Furuoka, Fumitaka Wong, Hock Tsen Chong, Hui Ing Ting, Siew King |
author_facet |
Furuoka, Fumitaka Wong, Hock Tsen Chong, Hui Ing Ting, Siew King |
author_sort |
Furuoka, Fumitaka |
title |
Domestic Macroeconomic Adjustment to Oil Price Shocks Under Different Exchange Rate Regimes in Malaysia |
title_short |
Domestic Macroeconomic Adjustment to Oil Price Shocks Under Different Exchange Rate Regimes in Malaysia |
title_full |
Domestic Macroeconomic Adjustment to Oil Price Shocks Under Different Exchange Rate Regimes in Malaysia |
title_fullStr |
Domestic Macroeconomic Adjustment to Oil Price Shocks Under Different Exchange Rate Regimes in Malaysia |
title_full_unstemmed |
Domestic Macroeconomic Adjustment to Oil Price Shocks Under Different Exchange Rate Regimes in Malaysia |
title_sort |
domestic macroeconomic adjustment to oil price shocks under different exchange rate regimes in malaysia |
publisher |
Universiti Utara Malaysia Press |
publishDate |
2007 |
url |
https://repo.uum.edu.my/id/eprint/30634/1/MMJ%2011%201%262%202007%201-10.pdf https://repo.uum.edu.my/id/eprint/30634/ https://e-journal.uum.edu.my/index.php/mmj/article/view/8944 |
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