How Effective is Monetary Transmission in Low-Income Countries? A Survey of the Empirical Evidence »
Series: IMF Working Papers
Author(s): Prachi Mishra , and Peter Montiel
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 June 2012
Keywords: exchange rate, interest rate, institutions, monetary transmission, aggregate demand, central bank, price level, Effective Is Monetary Transmission, Macroeconomic Analyses of Economic Development,
This paper surveys the evidence on the effectiveness of monetary transmission in low-income countries. It is hard to come away from this review with much confidence in the strength of monetary transmission in such...