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Monetary Policy with a Fixed Exchange Rate Regime

Raphael Espinoza, Ghada Fayad, and Ananthakrishnan Prasad

in The Macroeconomics of the Arab States of the Gulf

Published in print:
2013
Published Online:
January 2014
ISBN:
9780199683796
eISBN:
9780191763373
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199683796.003.0006
Subject:
Economics and Finance, Macro- and Monetary Economics

The GCC countries maintain a policy of open capital accounts and a pegged (or nearly-pegged) exchange rate, thereby reducing their freedom to run an independent monetary policy. This chapter shows, ... More


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