The Monetary Transmission Mechanism in the Tropics
Title | The Monetary Transmission Mechanism in the Tropics PDF eBook |
Author | Mr.Andrew Berg |
Publisher | International Monetary Fund |
Pages | 54 |
Release | 2013-09-20 |
Genre | Business & Economics |
ISBN | 1484351126 |
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.
Essays on the Monetary Transmission Mechanism
Title | Essays on the Monetary Transmission Mechanism PDF eBook |
Author | Jerry-Jeff Suk |
Publisher | |
Pages | 156 |
Release | 2008 |
Genre | |
ISBN | 9783866243309 |
The Monetary Transmission Mechanism
Title | The Monetary Transmission Mechanism PDF eBook |
Author | Jess Benhabib |
Publisher | |
Pages | 24 |
Release | 1996 |
Genre | |
ISBN |
Monetary Policy Transmission in Emerging Markets and Developing Economies
Title | Monetary Policy Transmission in Emerging Markets and Developing Economies PDF eBook |
Author | Mr.Luis Brandao-Marques |
Publisher | International Monetary Fund |
Pages | 54 |
Release | 2020-02-21 |
Genre | Business & Economics |
ISBN | 1513529730 |
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.
The Monetary Transmission Mechanism
Title | The Monetary Transmission Mechanism PDF eBook |
Author | Nicholas Haralambopoulos |
Publisher | |
Pages | 42 |
Release | 1995 |
Genre | Monetary policy |
ISBN |
The Monetary Transmission Mechanism
Title | The Monetary Transmission Mechanism PDF eBook |
Author | |
Publisher | |
Pages | |
Release | 2005 |
Genre | |
ISBN |
What We Don't Know Abot the Monetary Transmission Mechanism and why We Don't Know it
Title | What We Don't Know Abot the Monetary Transmission Mechanism and why We Don't Know it PDF eBook |
Author | Andreas Beyer |
Publisher | |
Pages | 19 |
Release | 2005 |
Genre | Transmission mechanism (Monetary policy) |
ISBN |