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Monetary transmission mechanism in a small open economy: A Bayesian structural VAR approach
Bhuiyan, Rokon - 2008
This paper develops an open-economy Bayesian structural VAR model for Canada in order to estimate the effects of monetary policy shocks, using the overnight target rate as the policy instrument. I allow the policy variable and the financial variables of the model to interact simultaneously with...
Persistent link: https://www.econbiz.de/10010290388
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Identifying a forward-looking monetary policy in an open economy
Bhuiyan, Rokon - 2009
than realized variables in a central bank's policy decisions. I also find that a contractionary policy shock …
Persistent link: https://www.econbiz.de/10010290458
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DSGE models and central banks
Tovar, Camilo - Bank für Internationalen Zahlungsausgleich <Basel> - 2008
general equilibrium (DSGE) models. Central banks in developed and emerging market economies have become increasingly … use of these models at central banks. It recognises that they offer coherent frameworks for structuring policy discussions …
Persistent link: https://www.econbiz.de/10009305062
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The single monetary policy and domestic macro-fundamentals : evidence from Spain
Arghyrou, Michael Georgiou (contributor);  … - 2008
We model pre-euro Spanish monetary policy and use our findings to assess the compatibility of the interest rates set by the ECB since 1999 with Spanish macrofundamentals. We find that in the 1990s Spain implemented successfully a monetary strategy tailored to its own domestic fundamentals; and...
Persistent link: https://www.econbiz.de/10003766104
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Monetary transmission mechanism in a small open economy : a Bayesian structural VAR approach
Bhuiyan, Rokon (contributor) - 2008
This paper develops an open-economy Bayesian structural VAR model for Canada in order to estimate the effects of monetary policy shocks, using the overnight target rate as the policy instrument. I allow the policy variable and the financial variables of the model to interact simultaneously with...
Persistent link: https://www.econbiz.de/10003768853
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DSGE models and central banks
Tovar, Camilo Ernesto - 2009
general equilibrium (DSGE) models. Central banks in developed and emerging market economies have become increasingly … use of these models at central banks. It recognises that they offer coherent frameworks for structuring policy discussions … specific use at central banks. -- DSGE models ; central banks ; communication ; estimation ; modelling …
Persistent link: https://www.econbiz.de/10003832138
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Identifying a forward-looking monetary policy in an open economy
Bhuiyan, Rokon - 2009
than realized variables in a central bank’s policy decisions. I also find that a contractionary policy shock …
Persistent link: https://www.econbiz.de/10003919312
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Supply, demand and monetary policy shocks in a multi-country New Keynesian model
Dées, Stéphane; Pesaran, M. Hashem; Smith, L. Vanessa; … - 2010
This paper estimates and solves a multi-country version of the standard DSGE New Keynesian (NK) model. The country-specific models include a Phillips curve determining inflation, an IS curve determining output, a Taylor Rule determining interest rates, and a real effective exchange rate...
Persistent link: https://www.econbiz.de/10003974674
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Supply, demand and monetary policy shocks in a multi-country New Keynesian Model
Dées, Stéphane; Pesaran, M. Hashem; Smith, L. Vanessa - 2010
This paper estimates and solves a multi-country version of the standard DSGE New Keynesian (NK) model. The country-specific models include a Phillips curve determining inflation, an IS curve determining output, a Taylor Rule determining interest rates, and a real effective exchange rate...
Persistent link: https://www.econbiz.de/10008657123
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Transmission of monetary policy through capital inflows to emerging markets
Olani, Adugna - 2016
In this paper, I examine the effects of advanced economies' conventional monetary policy on gross foreign direct and portfolio investment inflows to emerging economies. I use structural vector autoregressions to analyse and compare the response of each inflow category to world interest rate and...
Persistent link: https://www.econbiz.de/10011443289