This study examines the existence of a bank lending channel in the Indonesian banking system and tests whether monetary policy shock is transmitted via bank risk in bank lending activity. We use banking micro-data from 2007 to 2016. Using static and dynamic panel data, we find some contrary...

In this paper, we argue that inflation targeting could be the future of Tunisia's monetary policy. Monetary targeting has proven to be ineffective due to the composition of reserve money, structural liquidity deficit, and higher instability of the money multiplier after 2010. Exchange rate...

High-frequency changes in interest rates around FOMC announcements are an important tool for identifying the effects of monetary policy on asset prices and the macroeconomy. However, some recent studies have questioned both the exogeneity and the relevance of these monetary policy surprises as...