This paper analyses the monetary transmission mechanism for France over the period 1999-2012 through two of its main channels: the interest rate channel and the bank lending channel. It also focuses on the impact of the recent financial crisis on the pass-through to interest rates and credit...

New Neoclassical Synthesis models equate the instrument of monetary policy to the implied CCAPM rate arising from an Euler equation. This paper identifies monetary policy shocks within six of the G7 countries and examines the movement of money market and implied CCAPM rates. The key result is...

The Bank of Japan conducted its quantitative easing policy (QEP) from 2001 to 2006, with the policy commitment to maintaining its QEP until the CPI inflation rate became stably zero or higher. We evaluate its effects by using individual survey data on inflation expectations as well as interest...

The Bank of Japan conducted its quantitative easing policy ( QEP) from 2001 to 2006, with the policy commitment to maintaining its QEP until the CPI inflation rate became stably zero or higher. We evaluate its effects by using individual survey data on inflation expectations as well as interest...

This  article  empirically  examines  the  interest  rate  pass through  mechanism for Pakistan, using six month treasury bills as a proxy for the policy  rate (the exogenous variable) and the weighted average lending rate and weighted ...

The paper focuses on analysis of monetary policy transmission mechanism in V4 countries and EMU12. The aim of analysis is to verify the reaction of endogenous variables in case of monetary policy shocks with an emphasis on transmission through interest rate channel and its impact on inflation,...

The paper employs on individual bank data with aim to analyse interest rate pass-through from money market rates to banks’ deposits and lending rates. In the first step, the speed and completeness of interest rate adjustment is assessed. As the sample covers period prior to and after the...

Effect of monetary policy that applied by Central Banks on the real economy depends on action power of Central Banks to long term interest rates by using short term interest rates. However, while Central Banks may have a direct effect on short term interest rates, they influence long term...

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...

The basic channel within monetary transmission mechanism is the interest rate channel. However, the praxis of this channel in developing countries like Turkey and particularly under the regime of inflation targeting depends on the level of fiscal domination. Particularly fiscal domination within...