Share

The Effectiveness of Monetary Policy Transmission Under Capital Inflows

2012-11-02 Business & Economics
Download The Effectiveness of Monetary Policy Transmission Under Capital Inflows PDF Online Free

Author :
Release : 2012-11-02
Genre : Business & Economics
Kind : eBook
Book Rating : 713/5 ( reviews)

GET EBOOK


Book Synopsis The Effectiveness of Monetary Policy Transmission Under Capital Inflows by : Ms.Sonali Jain-Chandra

Download or read book The Effectiveness of Monetary Policy Transmission Under Capital Inflows written by Ms.Sonali Jain-Chandra. This book was released on 2012-11-02. Available in PDF, EPUB and Kindle. Book excerpt: The effectiveness of the monetary policy transmission mechanism in open economies could be impaired if interest rates are driven primarily by global factors, especially during periods of large capital inflows. The main objective of this paper is to assess whether this is true for emerging Asia’s economies. Using a dynamic factor model and a structural vector auto-regression model, we show that long-term interest rates in Asia are indeed predominantly driven by global factors. However, monetary policy transmission mechanism remains effective in the region, as it operates predominantly through short-term interest rates. Nevertheless, the monetary transmission mechanism, though effective, is somewhat weaker in Asia during the periods of surges in capital inflows.

Monetary Policy Transmission in Emerging Markets and Developing Economies

2020-02-21 Business & Economics
Download Monetary Policy Transmission in Emerging Markets and Developing Economies PDF Online Free

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

GET EBOOK


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.

Lost in Transmission? The Effectiveness of Monetary Policy Transmission Channels in the GCC Countries

2012-07-01 Business & Economics
Download Lost in Transmission? The Effectiveness of Monetary Policy Transmission Channels in the GCC Countries PDF Online Free

Author :
Release : 2012-07-01
Genre : Business & Economics
Kind : eBook
Book Rating : 396/5 ( reviews)

GET EBOOK


Book Synopsis Lost in Transmission? The Effectiveness of Monetary Policy Transmission Channels in the GCC Countries by : Mr.Serhan Cevik

Download or read book Lost in Transmission? The Effectiveness of Monetary Policy Transmission Channels in the GCC Countries written by Mr.Serhan Cevik. This book was released on 2012-07-01. Available in PDF, EPUB and Kindle. Book excerpt: This paper empirically investigates the effectiveness of monetary policy transmission in the Gulf Cooperation Council (GCC) countries using a structural vector autoregressive model. The results indicate that the interest rate and bank lending channels are relatively effective in influencing non-hydrocarbon output and consumer prices, while the exchange rate channel does not appear to play an important role as a monetary transmission mechanism because of the pegged exchange rate regimes. The empirical analysis suggests that policy measures and structural reforms - strengthening financial intermediation and facilitating the development of liquid domestic capital markets - would advance the effectiveness of monetary transmission mechanisms in the GCC countries.

Bank Leverage and Monetary Policy's Risk-Taking Channel

2013-06-06 Business & Economics
Download Bank Leverage and Monetary Policy's Risk-Taking Channel PDF Online Free

Author :
Release : 2013-06-06
Genre : Business & Economics
Kind : eBook
Book Rating : 130/5 ( reviews)

GET EBOOK


Book Synopsis Bank Leverage and Monetary Policy's Risk-Taking Channel by : Mr.Giovanni Dell'Ariccia

Download or read book Bank Leverage and Monetary Policy's Risk-Taking Channel written by Mr.Giovanni Dell'Ariccia. This book was released on 2013-06-06. Available in PDF, EPUB and Kindle. Book excerpt: We present evidence of a risk-taking channel of monetary policy for the U.S. banking system. We use confidential data on the internal ratings of U.S. banks on loans to businesses over the period 1997 to 2011 from the Federal Reserve’s survey of terms of business lending. We find that ex-ante risk taking by banks (as measured by the risk rating of the bank’s loan portfolio) is negatively associated with increases in short-term policy interest rates. This relationship is less pronounced for banks with relatively low capital or during periods when banks’ capital erodes, such as episodes of financial and economic distress. These results contribute to the ongoing debate on the role of monetary policy in financial stability and suggest that monetary policy has a bearing on the riskiness of banks and financial stability more generally.

Transmission of Monetary Policy in an Open Economy

1977 Circular velocity of money
Download Transmission of Monetary Policy in an Open Economy PDF Online Free

Author :
Release : 1977
Genre : Circular velocity of money
Kind : eBook
Book Rating : /5 ( reviews)

GET EBOOK


Book Synopsis Transmission of Monetary Policy in an Open Economy by : Jukka Matti Tapio Paljarvi

Download or read book Transmission of Monetary Policy in an Open Economy written by Jukka Matti Tapio Paljarvi. This book was released on 1977. Available in PDF, EPUB and Kindle. Book excerpt:

You may also like...