Monetary policy contributes to stabilize growth. Particularly in a reforming context for financial and economic activities, it is important to know how central bankers' decisions through the short term interest rate of the money market are transmitted to the real variables: the GDP and the...

On the basis of SVAR models of monetary policy in Egypt for the period December 1976-May 2006, our paper explores a new empirical assessment for the interest rate channel in correcting trouble in the Egyptian economy by imposing contemporaneous and long run restrictions. It appears that after a...