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Monetary Policy Transmission in the GCC Countries

Monetary Policy Transmission in the GCC Countries »

Volume/Issue: 2012/132

Series: IMF Working Papers

Author(s): Ananthakrishnan Prasad , and Raphael Espinoza

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2012

DOI: http://dx.doi.org/10.5089/9781475503685.001

ISBN: 9781475503685

Keywords: Transmission mechanism, Fixed exchange rate regime, interest rate pass-through, panel VAR, inflation, central bank, monetary fund, monetary shocks,

The GCC countries maintain a policy of open capital accounts and a pegged (or nearly-pegged) exchange rate, thereby reducing their freedom to run an independent monetary policy. This paper shows, however, that the...

Official Dollarization As a Monetary Regime
			: Its Effectson El Salvador

Official Dollarization As a Monetary Regime : Its Effectson El Salvador »

Volume/Issue: 2011/129

Series: IMF Working Papers

Author(s): Andrew Swiston

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2011

DOI: http://dx.doi.org/10.5089/9781455258390.001

ISBN: 9781455258390

Keywords: Taylor rule, monetary policy transmission, interest rate pass-through, currency risk, uncovered interest parity, exchange rate regime, interest rates, exchange rate, output growth, Studies of Particular Policy Episodes,

This paper examines El Salvador's transition to official dollarization by comparing aspects of this regime to the fixed exchange rate regime prevailing in the 1990s. Commercial bank interest rates are analyzed unde...

Monetary Policy Transmission Mechanisms in Pacific Island Countries

Monetary Policy Transmission Mechanisms in Pacific Island Countries »

Volume/Issue: 2011/96

Series: IMF Working Papers

Author(s): Jonathan Dunn , Matt Davies , Yongzheng Yang , Yiqun Wu , and Shengzu Wang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2011

DOI: http://dx.doi.org/10.5089/9781455254279.001

ISBN: 9781455254279

Keywords: monetary policy transmission, pass-through, monetary policy, inflation, central bank, monetary fund, aggregate demand, Money And Interest Rates,

During the global financial crisis, central banks in Pacific island countries eased monetary policy to stimulate economic activity. Judging by the ensuing movements in commercial bank interest rates and private sec...

Determinants of Interest Rate Pass-Through
			: Do Macroeconomic Conditions and Financial Market Structure Matter?

Determinants of Interest Rate Pass-Through : Do Macroeconomic Conditions and Financial Market Structure Matter? »

Volume/Issue: 2011/176

Series: IMF Working Papers

Author(s): Nikoloz Gigineishvili

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2011

DOI: http://dx.doi.org/10.5089/9781462312313.001

ISBN: 9781462312313

Keywords: Interest rate pass-through, transmission mechanism, money market, inflation, central bank, monetary transmission, Financial Markets and the Macroeconomy,

Numerous empirical studies have found that the strength of the interest rate pass-through varies markedly across countries and markets. The causes of such heterogeneity have attracted considerably less attention so...