Domestic Macroeconomic Adjustment to Oil Price Shocks Under Different Exchange Rate Regimes in Malaysia

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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Main Authors: Fumitaka Furuoka, Wong Hock Tsen, Chong Hui Ing, Ting Siew King
Format: Article
Language:English
Published: UUM Press 2020-01-01
Series:Malaysian Management Journal
Online Access:https://www.scienceopen.com/document?vid=be7a24b4-e31f-4756-9372-a6ad826fd729
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spelling doaj-97dbb00da6ba4ffba4f1357cf5025b662021-08-02T21:35:39ZengUUM PressMalaysian Management Journal0128-62262020-01-0110.32890/mmj.11.1-2.2007.8944Domestic Macroeconomic Adjustment to Oil Price Shocks Under Different Exchange Rate Regimes in MalaysiaFumitaka FuruokaWong Hock TsenChong Hui IngTing Siew KingThis 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.  https://www.scienceopen.com/document?vid=be7a24b4-e31f-4756-9372-a6ad826fd729
collection DOAJ
language English
format Article
sources DOAJ
author Fumitaka Furuoka
Wong Hock Tsen
Chong Hui Ing
Ting Siew King
spellingShingle Fumitaka Furuoka
Wong Hock Tsen
Chong Hui Ing
Ting Siew King
Domestic Macroeconomic Adjustment to Oil Price Shocks Under Different Exchange Rate Regimes in Malaysia
Malaysian Management Journal
author_facet Fumitaka Furuoka
Wong Hock Tsen
Chong Hui Ing
Ting Siew King
author_sort Fumitaka Furuoka
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 UUM Press
series Malaysian Management Journal
issn 0128-6226
publishDate 2020-01-01
description 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.  
url https://www.scienceopen.com/document?vid=be7a24b4-e31f-4756-9372-a6ad826fd729
work_keys_str_mv AT fumitakafuruoka domesticmacroeconomicadjustmenttooilpriceshocksunderdifferentexchangerateregimesinmalaysia
AT wonghocktsen domesticmacroeconomicadjustmenttooilpriceshocksunderdifferentexchangerateregimesinmalaysia
AT chonghuiing domesticmacroeconomicadjustmenttooilpriceshocksunderdifferentexchangerateregimesinmalaysia
AT tingsiewking domesticmacroeconomicadjustmenttooilpriceshocksunderdifferentexchangerateregimesinmalaysia
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