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Is the monetary policy rate effective? : recent evidence from Ghana
Akosah, Nana K. - 2015
We examine the effectiveness of monetary policy transmission mechanism in Ghana using several of statistical and econometric techniques for the period 2002M1 - 2014M12. We find monetary policy rate (MPR) to be quite effective in signaling the money market interest rates in both the short run and...
Persistent link: https://www.econbiz.de/10011326532
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Changes in monetary regimes and the identification of monetary policy shocks : narrative evidence from Canada
Champagne, Julien; Sekkel, Rodrigo - 2017
We use narrative evidence along with a novel database of real-time data and forecasts from the Bank of Canada's staff … monetary policy in Canada. We show that it is crucial to take into account the break in the conduct of monetary policy caused …
Persistent link: https://www.econbiz.de/10011777945
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Monetary Policy Transmission Mechanisms and Currency Unions : A Vector Error Correction Approach to a Trans-Tasman Currency Union
Haug, Alfred A.; Karagedikli, Özer; Ranchhod, Satish - 2006
the similarity of transmission mechanisms in New Zealand and Australia and consider the implications this has for a … using this methodology for New Zealand and Australia remain quite fragile, our analysis nevertheless suggests that the … transmission mechanisms in New Zealand and Australia do display many similarities. In particular the adjustments of both GDP and …
Persistent link: https://www.econbiz.de/10014083025
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Assessing the Effects of a Policy Rate Shock on Market Interest Rates : Interest Rate Pass-Through with a FAVAR Model - The Case of Turkey for the Inflation-Targeting Period
Varlik, Serdar - 2018
The purpose of this paper is to investigate the effectiveness of the central bank's policy rate on market interest rates in Turkey for the inflation-targeting period. Empirical evidence suggests that (i) all interest rates respond to a positive policy rate shock positively for all periods and...
Persistent link: https://www.econbiz.de/10012915255
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Endogenous Monetary Policy Regime Changes
Davig, Troy - 2013
This paper makes changes in monetary policy rules (or regimes) endogenous. Changes are triggered when certain endogenous variables cross specified thresholds. Rational expectations equilibria are examined in three models of threshold switching to illustrate that (i) expectations formation...
Persistent link: https://www.econbiz.de/10014055201
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Endogenous Monetary Policy Regime Change
Davig, Troy; Leeper, Eric M. - 2013
This paper makes changes in monetary policy rules (or regimes) endogenous. Changes are triggered when certain endogenous variables cross specified thresholds. Rational expectations equilibria are examined in three models of threshold switching to illustrate that (i) expectations formation...
Persistent link: https://www.econbiz.de/10014055631
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Oil Price Shock and its Impact on the Macroeconomic Variables of Pakistan : A Structural Vector Autoregressive Approach
Malik, Kashif - 2018
This study examines the dynamic effects of the oil price (OP) shocks on the key macroeconomic variables of Pakistan. A structural vector autoregressive model is used on yearly data from 1960 to 2014. The impulse response functions indicate that the OP shocks depress the real gross domestic...
Persistent link: https://www.econbiz.de/10012928104
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Monetary Policy, Financial Shocks and Economic Activity
Evgenidis, Anastasios; Malliaris, A. (Tassos) G. - 2023
This paper contributes to a fuller understanding of macroeconomic outcomes to financial market disturbances and the central bank’s role in financial stability. Our two major contributions are conceptual and econometric. Conceptually, we introduce phases of the business cycle and...
Persistent link: https://www.econbiz.de/10014254292
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Monetary policy, financial shocks and economic activity
Evgenidis, Anastasios; Malliaris, A. (Tassos) G. - 2021
This paper contributes to a deeper understanding of macroeconomic outcomes to financial market disturbances and the central bank’s role in financial stability, by using Bayesian VAR (BVAR) models. We document that a shock that increases credit to non-financial sector leads to a persistent...
Persistent link: https://www.econbiz.de/10013217405
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Inflation targeting in South Africa : a VAR analysis
Woglom, Geoffrey Richard H. - In: Tydskrif vir studies in ekonomie en ekonometrie : SEE 24 (2000) 2, pp. 1-18
Persistent link: https://www.econbiz.de/10001517096