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Monetary Policy Transmission in India: A Peep Inside the Black Box
Khundrakpam, Jeevan Kumar; Jain, Rajeev - Volkswirtschaftliche Fakultät, … - 2012
Using SVAR models on quarterly data for 1996-97:1 to 2011-12:1, the paper examines the relative importance of various transmission channels of monetary policy to GDP growth and inflation in India. It finds that external exogenous factors prolong the impact of monetary policy transmission on GDP...
Persistent link: https://www.econbiz.de/10011259799
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Balance Sheet Channel of Monetary Policy and Economic Growth under Fiscal Dominance: Evidence from Pakistan
Shabbir, Safia - Volkswirtschaftliche Fakultät, … - 2012
Using micro data on non-financial listed companies in Pakistan, over the period of 2000-2010, this paper emphasizes over the impact of monetary policy on economic growth through balance sheet channel. At first step, monetary tightening deteriorates the net worth of the firms and leads to cash...
Persistent link: https://www.econbiz.de/10011107430
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Monetary Transmission in Pakistan: The Balance Sheet Channel
Shabbir, Safia - Volkswirtschaftliche Fakultät, … - 2012
Using data of non-financial listed firms over a period of 1999-2010, this paper investigates the effectiveness of balance sheet channel in monetary transmission mechanism in Pakistan. By classifying firms as SME and large, this paper finds a strong evidence for the existence of net worth channel...
Persistent link: https://www.econbiz.de/10011107761
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What about monetary transmission in Albania? Is the exchange rate pass-through (still) the main channel?
Peeters, Marga - Volkswirtschaftliche Fakultät, … - 2005
There seems to be a general perception that the exchange rate pass-through is the most important channel in the transmission process of monetary policy in Albania. This perception is questioned here in light of the altering relationships in this developing economy. A discussion on the...
Persistent link: https://www.econbiz.de/10008568632
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Conditions for turning the ex ante risk premium into an ex post redemption for EU government debt
Colignatus, Thomas - Volkswirtschaftliche Fakultät, … - 2011
differences not only because of liquidity but mainly because of the risk of default, as also reflected in credit default swaps … shorter maturities but at higher annual liquidity requirements meet with strong incentives to better manage their economies … credit default risk premium, the liquidity premium and a stigma factor. While much of the debate in the EU seems to be about …
Persistent link: https://www.econbiz.de/10009372590
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The yield curve and the prediction on the business cycle: a VAR analysis for the European Union
Cinquegrana, Giuseppe; Sarno, Domenico - Volkswirtschaftliche Fakultät, … - 2010
The literature on the yield curve deals with the capacity to predict the future inflation and the future real growth from the term structure of the interest rates. The aim of the paper is to verify this predictive power of the yield curve for the European Union at 16 countries in the 1995-2008...
Persistent link: https://www.econbiz.de/10008550561
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Central bank independence: monetary policies in selected jurisdictions (III)
Ojo, Marianne; Ayadi, Felix - Volkswirtschaftliche Fakultät, … - 2013
A sufficient and appropriate degree of central bank independence is widely acknowledged to be necessary for the goal of achieving price stability. However, despite the levels of independence claimed to be enjoyed by several central banks, recent events indicate shifts in focus of monetary policy...
Persistent link: https://www.econbiz.de/10011257824
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Central bank independence: monetary policies in selected jurisdictions (I)
Felix, Ayadi; Marianne, Ojo - Volkswirtschaftliche Fakultät, … - 2013
Even though the Congress and the Administration are responsible for determining fiscal policy measures, these measures impact the Fed Reserve's monetary policy decisons. The indirect effect of fiscal policy on the conduct of monetary policy through its influence on the overall economy and the...
Persistent link: https://www.econbiz.de/10011261038
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Central banks and different policies implemented in response to the recent Financial Crisis
Ojo, Marianne - Volkswirtschaftliche Fakultät, … - 2010
Rescue cases involving guarantees (contrasted with restructuring cases) during the recent Financial Crisis, have illustrated the prominent position which the goal of promoting financial stability has assumed over that of the prevention or limitation of possible distortions of competition which...
Persistent link: https://www.econbiz.de/10008693548
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The role of monetary policy in matters relating to financial stability: Monetary policy responses adopted during the most recent Financial Crisis
Ojo, Marianne - Volkswirtschaftliche Fakultät, … - 2010
could become overly dependent on monetary policy and liquidity sustenance measures provided during deteriorating financial …
Persistent link: https://www.econbiz.de/10008740556