What determines the size of monetary policy effects on prices? This is one of the crucial questions for the efficient conduct of monetary policy; hence this study investigates this issue by exploring variations in the responsiveness of prices to a monetary policy shock across 46 developed and...

This study explores cross-country variations in the effects of a monetary policy shock on output using the sample of 48 developed and developing countries. The structural vector autoregression model is used to estimate monetary policy effects for each country separately. Based on the estimated...