Singapore: Selected Issues
August 13, 2008
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This Selected Issues paper assesses the stability of Singapore’s banking system in a regional context. It proposes a novel methodology for gauging domestic financial stability. The paper assesses the impact of fiscal measures on macroeconomic activity, and analyzes the effects of monetary policy using structural vector autoregressions. Estimates show that the Monetary Authority of Singapore’s exchange rate-centered framework is well suited to shape monetary decision making, given the large impact that changes in the nominal exchange rate have on activity and prices.
Subject: Bank soundness, Banking, Commercial banks, Consumer price indexes, Financial institutions, Financial sector policy and analysis, Fiscal policy, Inflation, Prices
Keywords: bank, bank default, bank portfolio, Bank soundness, banks probability, Commercial banks, Consumer price indexes, contractionary monetary policy, CR, discretionary fiscal policy decision, exchange rate, expenditure measure, Global, Inflation, ISCR
Pages:
37
Volume:
2008
DOI:
Issue:
281
Series:
Country Report No. 2008/281
Stock No:
1SGPEA2008003
ISBN:
9781451834284
ISSN:
1934-7685
