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Aspects of the Monetary Transmission Mechanism Under Exchange Rate Targeting

1997-04-01 Business & Economics
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Release : 1997-04-01
Genre : Business & Economics
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Book Rating : 752/5 ( reviews)

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Book Synopsis Aspects of the Monetary Transmission Mechanism Under Exchange Rate Targeting by : Mr.Ioannis Halikias

Download or read book Aspects of the Monetary Transmission Mechanism Under Exchange Rate Targeting written by Mr.Ioannis Halikias. This book was released on 1997-04-01. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines monetary transmission in France using the vector autoregression methodology. Interest rates are decomposed into external and domestic components, and a nonrecursive contemporaneous structure is used to identify the system. Innovations in the external component are found to have a significant impact on economic activity, while innovations in the domestic premium have a statistically negligible effect, suggesting that interest rate hikes in defense of the franc may have had a smaller impact on the economy than usually thought. The paper also discusses some implications of Economic and Monetary Union and provides evidence concerning the importance of the credit channel in France.

Aspects of the Monetary Transmission Mechanism Under Exchange Rate Targeting

2006
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Release : 2006
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Book Synopsis Aspects of the Monetary Transmission Mechanism Under Exchange Rate Targeting by : Joaquim Levy

Download or read book Aspects of the Monetary Transmission Mechanism Under Exchange Rate Targeting written by Joaquim Levy. This book was released on 2006. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines monetary transmission in France using the vector autoregression methodology. Interest rates are decomposed into external and domestic components, and a nonrecursive contemporaneous structure is used to identify the system. Innovations in the external component are found to have a significant impact on economic activity, while innovations in the domestic premium have a statistically negligible effect, suggesting that interest rate hikes in defense of the franc may have had a smaller impact on the economy than usually thought. The paper also discusses some implications of Economic and Monetary Union and provides evidence concerning the importance of the credit channel in France.

Aspects of the Monetary Transmission Mechanism Under Exchange Rate Targeting

1997
Download Aspects of the Monetary Transmission Mechanism Under Exchange Rate Targeting PDF Online Free

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Release : 1997
Genre :
Kind : eBook
Book Rating : /5 ( reviews)

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Book Synopsis Aspects of the Monetary Transmission Mechanism Under Exchange Rate Targeting by : Joaquim Vieira Ferreira Levy

Download or read book Aspects of the Monetary Transmission Mechanism Under Exchange Rate Targeting written by Joaquim Vieira Ferreira Levy. This book was released on 1997. Available in PDF, EPUB and Kindle. Book excerpt:

Monetary Policy Transmission in Emerging Markets and Developing Economies

2020-02-21 Business & Economics
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Release : 2020-02-21
Genre : Business & Economics
Kind : eBook
Book Rating : 730/5 ( reviews)

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Book Synopsis Monetary Policy Transmission in Emerging Markets and Developing Economies by : Mr.Luis Brandao-Marques

Download or read book Monetary Policy Transmission in Emerging Markets and Developing Economies written by Mr.Luis Brandao-Marques. This book was released on 2020-02-21. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Monetary Transmission in Diverse Economies

2002-10-17 Business & Economics
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Release : 2002-10-17
Genre : Business & Economics
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Book Rating : 508/5 ( reviews)

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Book Synopsis Monetary Transmission in Diverse Economies by : Lavan Mahadeva

Download or read book Monetary Transmission in Diverse Economies written by Lavan Mahadeva. This book was released on 2002-10-17. Available in PDF, EPUB and Kindle. Book excerpt: The transmission mechanism of monetary policy explains how monetary policy works - which variables respond to interest rate changes, when, why, how, how much and how predictably. It is vital that central banks and their observers, worldwide, understand the transmission mechanism so that they know what monetary policy can do and what it should do to stabilize inflation and output. The volume sets out different aspects of the transmission mechanism. Some chapters scrutinize the relevance of practical issues such as asymmetries, recent structural changes and estimation errors using data on the USA, the Euro area and developing countries. Other chapters focus on modelling crucial aspects such as productivity, the exchange rate and the monetary sector. These issues are counterpointed by contributions that analyse monetary policy in Japan and the UK.

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