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Stabilization bias for a small open economy: The case of New Zealand

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dc.contributor.authorLiu, Philip
dc.date.accessioned2015-12-10T23:02:08Z
dc.date.issued2010
dc.date.updated2016-02-24T08:31:14Z
dc.description.abstractUsing a fully specified DSGE model, this paper investigates the relationship between a central bank's policy objectives and the stabilization bias. The model is estimated using data from New Zealand. Results indicate that the size of the stabilization bias is nearly twice as large for a small open economy relative to that of closed economies. The results also indicate that the size of the stabilization bias is increasing with respect to the policymaker's preference for exchange rate stabilization.
dc.identifier.issn0164-0704
dc.identifier.urihttp://hdl.handle.net/1885/61876
dc.publisherElsevier
dc.sourceJournal of Macroeconomics
dc.subjectKeywords: Bayesian estimation; DSGE models; Small open economy; Stabilization bias
dc.titleStabilization bias for a small open economy: The case of New Zealand
dc.typeJournal article
local.bibliographicCitation.issue3
local.bibliographicCitation.lastpage935
local.bibliographicCitation.startpage921
local.contributor.affiliationLiu, Philip, College of Asia and the Pacific, ANU
local.contributor.authoruidLiu, Philip, u4089761
local.description.embargo2037-12-31
local.description.notesImported from ARIES
local.identifier.absfor140212 - Macroeconomics (incl. Monetary and Fiscal Theory)
local.identifier.ariespublicationf2965xPUB647
local.identifier.citationvolume32
local.identifier.doi10.1016/j.jmacro.2009.11.004
local.identifier.scopusID2-s2.0-77952101972
local.type.statusPublished Version

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