Investigating Asymmetric Effects of Monetary Shocks on the Exchange Rate and Trade Balance, with an Emphasis on Inflation Targeting

摘要: Abstract Monetary shocks are proposed as a means of economic control in the world's systems. The exchange rate and its changes, one macroeconomic variables price foreign currency domestic currency, have significant effect on other such inflation, production, exports, imports, balance payments so on. Vast changes rates can affect country's by affecting supply demand economy. Thus, according to issues, this study intends use 18-year experience inflation targeting framework adopted industrial developing countries investigate relationship between monetary real trade some these countries. results extended torque models’ estimates for developed indicate that stabilization policy expansion improvement studied been is function stabile long-term macro-economic policies has properly implemented. also showed positive gross production existence liquidity shock increases research. Results show rising prices do not move same direction.