The Monetary Transmission Process
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Electronic Money And The Monetary Transmission Process
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Author : Frank Hespeler
language : en
Publisher: Cuvillier Verlag
Release Date : 2008
Electronic Money And The Monetary Transmission Process written by Frank Hespeler and has been published by Cuvillier Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with categories.
The Monetary Transmission Process
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Author : D. Bundesbank
language : en
Publisher: Springer
Release Date : 2001-01-29
The Monetary Transmission Process written by D. Bundesbank and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001-01-29 with Business & Economics categories.
The start of the European monetary union gave additional impetus to the lively debate on the effects of monetary policy and the appropriate strategy for central banks. This book collects papers and comments by leading academics and central bankers such as O.Issing, M.King, B.McCallum, A.Meltzer, L.Svensson and H.Tietmeyer. The volume examines methodological questions, the actual role played by the financial sectors and labour markets in implementing monetary policy in Europe, and the likely future developments in these areas.
Monetary Transmission Process
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Author : Deutsche Bundesbank
language : en
Publisher:
Release Date : 2001
Monetary Transmission Process written by Deutsche Bundesbank and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with categories.
Monetary Transmission In Europe
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Author : Jan Kakes
language : en
Publisher: Edward Elgar Publishing
Release Date : 2000-01-01
Monetary Transmission In Europe written by Jan Kakes and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000-01-01 with Business & Economics categories.
This work focuses on different aspects of the monetary transmission process, looking at both large and small economies in the EMU. The results offer useful evaluation tools with regard to monetary policy transmission in a European perspective.
Modelling Aspects Of The Inflation Process And The Monetary Transmission Mechanism In Emerging Market Countries
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Author : [Anonymus AC03334446]
language : en
Publisher:
Release Date : 2001
Modelling Aspects Of The Inflation Process And The Monetary Transmission Mechanism In Emerging Market Countries written by [Anonymus AC03334446] and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Foreign exchange categories.
Financial Structure And Monetary Transmission In Europe
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Author : Gabe J. De Bondt
language : en
Publisher: Edward Elgar Publishing
Release Date : 2000-01-01
Financial Structure And Monetary Transmission In Europe written by Gabe J. De Bondt and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000-01-01 with Business & Economics categories.
'I can fully recommend this book to those interested in the transmission process of monetary policy.' - Harry Garretsen, De Economist Due to financial market imperfections it is imperative to analyse the relationship between financial structure and the monetary policy transmission process in Europe to effectively design and implement European monetary policy. Focusing on the years 1980-1995 and providing empirical evidence for six European countries, namely Germany, France, Italy, the UK, Belgium and the Netherlands, the author discusses whether cross-country variations in financial structure have a systematic relationship with inter-country differences in the monetary transmission process. The analysis of this is invaluable as differences in financial structures across EMU countries may hamper the implementation of a common European monetary policy in the future. The conclusion is that some elements of the financial structure are clearly relevant and applicable for European monetary policy and the monetary transmission process in particular.
Interest Rates And The Channels Of Monetary Transmission
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Author : Spencer Dale
language : en
Publisher:
Release Date : 2003
Interest Rates And The Channels Of Monetary Transmission written by Spencer Dale and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with categories.
The monetary transmission mechanism describes the channels through which changes in monetary policy affect the policy target, price inflation. Understanding the transmission mechanism is thus central to the successful conduct of monetary policy. This paper uses a Vector AutoRegressive (VAR) methodology to uncover a number of stylised features of the monetary transmission process in the UK. In particular, close attention is paid to the role played by money and credit as intermediate channels. The possibility that the transmission mechanism may differ across sectors is allowed for by estimating separate VARs for the personal and corporate sectors. Three policy conclusions emerge. First, as suggested by Classical theory, monetary policy is output neutral over the longer term. Second, the lags between changes in monetary policy and its effect upon prices are lengthy (at least 18 months). And third, that aggregate measures of money and credit may provide blurred signals of the impact of monetary policy in final variables. Sectoral measures of bank deposits (for companies) and bank credit (for persons) provide the more timely intermediate indicators.
Differences In The Monetary Policy Transmission Mechanism Within The European Monetary Union Germany And Italy
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Author : Wilhelm Fohr
language : en
Publisher: GRIN Verlag
Release Date : 2007-01-07
Differences In The Monetary Policy Transmission Mechanism Within The European Monetary Union Germany And Italy written by Wilhelm Fohr and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-01-07 with Business & Economics categories.
Master's Thesis from the year 2005 in the subject Economics - Monetary theory and policy, grade: 1,3, Berlin School of Economics, 34 entries in the bibliography, language: English, abstract: The European Central Bank1is in charge to conduct monetary policy for a growing number of nations, participating in the European Monetary Union. This joint enterprise is still young, but followed decades of increasing cooperation and integration after the Second World War. However, the question remains how suitable a shared monetary policy is for a number of different economies. Today, most central banks put emphasis on price stability as medium-term goal, for this is the best way to stabilise expectations and to promote sustainable growth. A precondition for the successful conduct of monetary policy is that monetary impulses are transmitted throughout the whole currency area in a symmetric way. Therefore, central banks need to assess the timing and magnitude how interest rate movements affect the economy and through which channels this mechanism works. This allows the central bank to use their policy instruments at the right time and with the right intensity. Information about the characteristics of the monetary transmission process in EMU-countries, especially about national differences, has important lessons for the effective conduct of monetary policy. Consequently, asymmetric monetary transmission would be able to weaken the position of the European Central Bank and has a negative impact on the economy. This paper deals with the question of asymmetric transmission in the Euro-area. It involves information about the characteristics of transmission channels in EMU countries, the different stages of transmission where asymmetry or convergence might occur and the perspectives for the future development of the European transmission mechanisms. The objective is to find out about asymmetries in monetary policy transmission and their consequences. This paper answers the question if there are major drawbacks for participating economies possible or if the Euro will catalyse European integration without negative side effects.
Var Meets Dsge
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Author : Bin Grace Li
language : en
Publisher: International Monetary Fund
Release Date : 2016-04-11
Var Meets Dsge written by Bin Grace Li and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-04-11 with Business & Economics categories.
VAR methods suggest that the monetary transmission mechanism may be weak and unreliable in low-income countries (LICs). But are structural VARs identified via short-run restrictions capable of detecting a transmission mechanism when one exists, under research conditions typical of these countries? Using small DSGEs as data-generating processes, we assess the impact on VAR-based inference of short data samples, measurement error, high-frequency supply shocks, and other features of the LIC environment. The impact of these features on finite-sample bias appears to be relatively modest when identification is valid—a strong caveat, especially in LICs. However, many of these features undermine the precision of estimated impulse responses to monetary policy shocks, and cumulatively they suggest that “insignificant” results can be expected even when the underlying transmission mechanism is strong.
The Monetary Transmission In Dollarized And Non Dollarized Economies
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Author : Mr.Santiago Acosta Ormaechea
language : en
Publisher: International Monetary Fund
Release Date : 2011-04-01
The Monetary Transmission In Dollarized And Non Dollarized Economies written by Mr.Santiago Acosta Ormaechea and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-04-01 with Business & Economics categories.
The paper conducts a comparative study of the monetary policy transmission in two economies that run a well-established IT regime, Chile and New Zealand, vis-à-vis two economies operating under relatively newer IT regimes, and which are exposed to a significant degree of dollarization, Peru and Uruguay. It is shown that the traditional interest rate channel is effective in Chile and New Zealand. For Peru and Uruguay, the exchange rate channel is instead more relevant in the transmission of monetary policy. This latter result follows from the limited impact of the policy rate in curbing inflationary pressures in these two countries, in combination with the fact that they have a relatively large and persistent exchange rate pass through. Finally, it is shown that the on-going de-dollarization process of Peru and Uruguay has somewhat strengthened their monetary transmission through the interest rate channel.