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Found 3 results for '"EMP shock"', showing 1-3
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1. Mr. Evan C Tanner (1999): Exchange Market Pressure and Monetary Policy: Asia and Latin America in the 1990s

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   Exchange market pressure (EMP), the sum of exchange rate depreciation and reserve outflows (scaled by base money), summarizes the flow excess supply of money in a managed exchange rate regime. Examining Brazil, Chile, Mexico, Indonesia, Korea, and Thailand, this paper finds that monetary policy affects EMP as generally expected: contractionary monetary policy helps reduce EMP. ... In response to higher EMP, monetary authorities boosted domestic credit growth both in Mexico (confirming previous research) and in the Asian countries.
   RePEc:imf:imfwpa:1999/114  Save to MyIDEAS
2. Mr. Evan C Tanner (2002): Exchange Market Pressure, Currency Crises, and Monetary Policy: Additional Evidence From Emerging Markets

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   This paper extends my previous work by examining the relationship between monetary policy and exchange market pressure (EMP) in 32 emerging market countries. EMP is a gauge of the severity of crises, and part of this paper specifically analyzes crisis periods. ... And, in most countries the shocks to monetary policy affect EMP in the direction predicted by traditional approaches: tighter money reduces EMP.
   RePEc:imf:imfwpa:2002/014  Save to MyIDEAS
3. Yongbok Kim (2009): Exchange Market Pressure and Net Foreign Assets in Korea (in Korean)

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   We investigate how the NFA responds against various shocks such as exchange market pressure (EMP), exchange rate, kospi, and risk-free interest rate difference through the Markov-Switching VAR and the reduced VAR models. we estimate the EMP based on a small open economy model developed by Weymark (1997) taking the exchange rate pass-through into account. We find that changes in exchange rates have become more vital to reduce the EMP in the postcrisis period. We also find that the NFA responds more steadily against EMP shocks than exchange rate shocks; the NFA has an especially close relationship with the EMP under the highly volatile foreign exchange market. Our analysis suggests that the EMP is a key variable to analyze changes in the NFA. Especially, EMP provides useful information on how NFA changes in volatile foreign exchange market.
   RePEc:bok:journl:v:15:y:2009:i:1:p:39-72  Save to MyIDEAS