Series: IMF Working Papers
Author(s): Sanchita Mukherjee , and Rina Bhattacharya
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 October 2011
Keywords: interest rate elasticity, financial market development, capital account, deposit rate, financial sector, stock market, Financial Markets and the Macroeconomy, Open Economy Macroeconomics, International Policy Coordination and Transmission,
In this paper we empirically examine the operation of the traditional Keynesian interest rate channel of the monetary policy transmission mechanism in five potential inflation targeting economies in the MENA region...