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On the contribution of interest expense (income) on total output
Nizam, Ahmed Mehedi - In: Open economics 4 (2021) 1, pp. 31-56
which eventually results into a greater spending in investment and a bigger GDP. However, a decrease in interest rate is … also linked to a decrease in interest income which, in turn, affects the aggregate demand and total GDP. So far, no … concerted effort has been made to investigate this positive inter-relation between interest income and GDP in the existing …
Persistent link: https://www.econbiz.de/10012589330
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Towards full-fledged inflation targeting monetary policy regime in Mauritius
Madhou, Ashwin; Sewak, Tayushma; Moosa, Imad A.; … - In: Journal of risk and financial management : JRFM 14 (2021) 3/126, pp. 1-18
the current monetary policy framework and the challenges in transitioning towards FFIT. Given that forecasting is central … to FFIT, we develop a practical model-based forecasting and policy analysis system (FPAS) to support transition to FFIT …
Persistent link: https://www.econbiz.de/10012486242
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Responses to monetary policy shocks in the east and the west of Europe : a comparison
Jarociński, Marek - 2008
This paper compares impulse responses to monetary policy shocks in the euro area countries before the EMU and in the New Member States (NMS) from central-eastern Europe. We mitigate the small sample problem, which is especially acute for the NMS, by using a Bayesian estimation that combines...
Persistent link: https://www.econbiz.de/10003825885
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Monetary policy transmission and house prices : European cross-country evidence
Carstensen, Kai; Hülsewig, Oliver; Wollmershäuser, Timo - 2009
This paper explores the importance of housing and mortgage market heterogeneity in 12 European countries for the transmission of monetary policy. We use a panel VAR model which is estimated over the period 19952006 to generate impulse responses of key macroeconomic variables to a monetary policy...
Persistent link: https://www.econbiz.de/10003872444
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Towards an explanation of cross-country asymmetries in monetary transmission
Georgiadis, Georgios - 2012
I quantify the importance of financial structure, labor market rigidities and industry mix for cross-country asymmetries in monetary transmission. To do so, I determine how closely the impulse responses to a monetary policy shock obtained from country-specific vectorautoregressive (VAR) models...
Persistent link: https://www.econbiz.de/10009509088
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Monetary policy during financial crises : is the transmission mechanism impaired?
Jannsen, Nils; Potjagailo, Galina; Wolters, Maik H. - 2015
We study the macroeconomic effects of monetary policy during financial crises using a Bayesian panel vector autoregressive (PVAR) model for 20 advanced economies. We interact all of the endogenous variables with financial crisis dummies, which are constructed using the narrative approach. We...
Persistent link: https://www.econbiz.de/10011309142
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Monetary policy during financial crises : is the transmission mechanism impaired?
Jannsen, Nils; Potjagailo, Galina; Wolters, Maik H. - 2015
We study the macroeconomic effects of monetary policy during financial crises using a Bayesian panel vector autoregressive (PVAR) model for 20 advanced economies. We interact all of the endogenous variables with financial crisis dummies, which are constructed using the narrative approach. We...
Persistent link: https://www.econbiz.de/10011326584
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Spillover effects from euro area monetary policy across the EU : a factor-augmented VAR approach
Potjagailo, Galina - 2016
I analyze spillover effects from Euro area monetary policy shocks to thirteen EU countries outside the Euro area, i.e., ten countries from Central and Eastern Europe (CEE) and three Western EU members. The analysis is based on a FAVAR model with two blocks which exploits a large cross-country...
Persistent link: https://www.econbiz.de/10011440779
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The bank lending channel and lunar phases : Evidence from a panel of European banks
Apergēs, Nikolaos; Gabrielsen, Alexander - In: Journal of finance and investment analysis 1 (2012) 3, pp. 1-19
While many studies have demonstrated the impact of weather conditions along with lunar phases on stock markets, this paper explores the impact of lunar phases on the bank lending channel for a sample of European banks, using the GMM estimator methodology, suggested in Arellano and Bond (1991),...
Persistent link: https://www.econbiz.de/10009671273
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Monetary policy rule : a broad monetary conditions index for Nigeria
Yaaba, Baba N. - In: CBN journal of applied statistics 4 (2013) 1, pp. 35-53
To determine the relative importance of both the domestic and external influences on monetary policy formulation, this paper constructs a broad monetary conditions index for Nigeria. It brings together the three key channels of monetary transmission, namely interest rate, exchange rate and...
Persistent link: https://www.econbiz.de/10011474824