The Monetary Transmission Mechanism In The Tropics
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Author | : Mr.Andrew Berg |
Publisher | : International Monetary Fund |
Total Pages | : 54 |
Release | : 2013-09-20 |
Genre | : Business & Economics |
ISBN | : 1484351126 |
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Many central banks in low-income countries in Sub-Saharan Africa are modernising their monetary policy frameworks. Standard statistical procedures have had limited success in identifying the channels of monetary transmission in such countries. Here we take a narrative approach, following Romer and Romer (1989), and center on a significant tightening of monetary policy that took place in 2011 in four members of the East African Community: Kenya, Uganda, Tanzania and Rwanda. We find clear evidence of the transmission mechanism in most of the countries, and argue that deviations can be explained by differences in the policy regime in place.
Author | : Jerry-Jeff Suk |
Publisher | : |
Total Pages | : 156 |
Release | : 2008 |
Genre | : |
ISBN | : 9783866243309 |
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Author | : Jess Benhabib |
Publisher | : |
Total Pages | : 24 |
Release | : 1996 |
Genre | : |
ISBN | : |
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Author | : Nicholas Haralambopoulos |
Publisher | : |
Total Pages | : 42 |
Release | : 1995 |
Genre | : Monetary policy |
ISBN | : |
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Author | : |
Publisher | : |
Total Pages | : |
Release | : 2005 |
Genre | : |
ISBN | : |
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Author | : Andreas Beyer |
Publisher | : |
Total Pages | : 19 |
Release | : 2005 |
Genre | : Transmission mechanism (Monetary policy) |
ISBN | : |
Download What We Don't Know Abot the Monetary Transmission Mechanism and why We Don't Know it Book in PDF, Epub and Kindle
Author | : D. A. C. Boyd |
Publisher | : |
Total Pages | : 20 |
Release | : 2003 |
Genre | : Economics |
ISBN | : |
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Author | : Christopher J. Gust |
Publisher | : |
Total Pages | : |
Release | : 1999 |
Genre | : |
ISBN | : |
Download Essays on Models of the Monetary Transmission Mechanism Book in PDF, Epub and Kindle
Author | : Andreas Beyer |
Publisher | : |
Total Pages | : 19 |
Release | : 2004 |
Genre | : Transmission mechanism (Monetary policy) |
ISBN | : |
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Author | : Mr.Luis Brandao-Marques |
Publisher | : International Monetary Fund |
Total Pages | : 54 |
Release | : 2020-02-21 |
Genre | : Business & Economics |
ISBN | : 1513529730 |
Download Monetary Policy Transmission in Emerging Markets and Developing Economies Book in PDF, Epub and Kindle
Central banks in emerging and developing economies (EMDEs) have been modernizing their monetary policy frameworks, often moving toward inflation targeting (IT). However, questions regarding the strength of monetary policy transmission from interest rates to inflation and output have often stalled progress. We conduct a novel empirical analysis using Jordà’s (2005) approach for 40 EMDEs to shed a light on monetary transmission in these countries. We find that interest rate hikes reduce output growth and inflation, once we explicitly account for the behavior of the exchange rate. Having a modern monetary policy framework—adopting IT and independent and transparent central banks—matters more for monetary transmission than financial development.