Economics, Econometrics and Finance
8 years ago

Flexible exchange rates in Malaysia smooth out oil price shock impacts.

Malaysian Management Journal
Domestic Macroeconomic Adjustment to Oil Price Shocks Under Different Exchange Rate Regimes in Malaysia
Fumitaka Furuoka, Wong Hock Tsen, Chong Hui Ing, Ting Siew King

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The study looked at how Malaysia's economy responds to changes in oil prices under different exchange rate systems. They used data from 1980 to 2005 to see if the effects on output, exchange rates, and prices were different with flexible or fixed exchange rates. The results showed that when oil prices change, Malaysia's output changes more smoothly with a flexible exchange rate system compared to a fixed one.