Summary In a framework of a monetary asset pricing model with production the effects of monetary and fiscal policy shocks are investigated. The model is kept simple enough to generate explicit formulae for the equilibrium price functions. With money yielding liquidity services in the exchange...

Summary This paper explores the existence of the credit channel in the transmission of monetary policy in Germany on the basis of a structural analysis of aggregate bank loan data. The empirical analysis is carried out in a vector error correction model (VECM), which allows to identify long-run...

Purpose – The purpose of this paper is to study if the central bank (BC) communications affect the effectiveness of the monetary policy. Design/methodology/approach – For this analysis, a new Keynesian theoretical model and the ordinary least squared methodology were used. The objective to...

Purpose – This paper aims to study a monetary policy problem, where concerns with price stability and with the impact of interest rates on public debt are simultaneously addressed. Design/methodology/approach – The problem is analytically approached under a new Keynesian monetary policy...

Purpose – The purpose of this paper is to examine the inertia of monetary policy in the Jordanian economy, in which the monetary policy is neutral owing to the adoption of a fixed exchange rate with the US dollar. The question of the current paper is: Does monetary policy inertia exist in such...

Purpose – The purpose of this paper is to make an analysis of the Brazilian experience after the adoption of inflation targeting concerning the effects caused by the new practices of transparency and communication in the monetary policy. Design/methodology/approach – Changes in the financial...

Purpose – The purpose of this paper is to present a model that studies the impact of a tightening monetary policy on banking failure in a developing country. Design/methodology/approach – The interest rate on treasury bills is included in the model to measure monetary policy. Since the model...

Purpose This study aims to focus on two-way interaction between monetary policy and house prices in emerging economies. Design/methodology/approach This study uses panel structural vector autoregressive model. Findings The results show that real house prices decrease in response to a...

Purpose This paper aims to examine whether there are differences between the long and short-term relationship of house prices and interest rates. The elasticity of house prices to monetary policy changes, e.g. via interest rates, is from a theoretical perspective and in the long-run negative....

Purpose – This study aims to quantitatively measure the size and speed of monetary policy interest rate transmission to long‐term interest rates in Kenya. Design/methodology/approach – The study uses autoregressive distributed lag specification re‐parameterized as an error correction...