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The Per Jacobsson Lecture 2006 : Competition Policy and Monetary Policy: A Comparative Perspective

International Monetary Fund - 2006

This chapter provides a comparative perspective of competition policy and monetary policy. Monetary policy and competition policy are two key components of public policies needed for a market economy to function well, and indeed to exist, just as money and the market are two defining elements of...

Persistent link: https://www.econbiz.de/10014397223

Monetary Policy Matters : New Evidence Basedon a New Shock Measure

Crowe, Christopher W. - 2010

Conventional VAR and non-VAR methods of identifying the effects of monetary policy shocks on the economy have found a negative output response to monetary tightening using U.S. data over the 1960s-1990s. However, we show that these methods fail to find this contractionary effect when the sample...

Persistent link: https://www.econbiz.de/10014397365

Monetary Policy Transmission in Ghana : Does the Interest Rate Channel Work?

Kovanen, Arto - 2011

This paper analyzes interest rate pass-through in Ghana. Time series and bank-specific data are utilized to highlight … prime rate illustrate the challenges the Bank of Ghana faces when targeting a short-term money market interest rate …

Persistent link: https://www.econbiz.de/10014397368

Monetary Transmission and Financial Indexation : Evidence from the Chilean Economy

International Monetary Fund - 1994

This paper reviews empirical evidence on the operation of the monetary transmission mechanism based on targeting of interest rates on indexed assets in the Chilean economy. The empirical evidence has two policy implications. First, interest rates on indexed assets do not fully reflect real...

Persistent link: https://www.econbiz.de/10014397378

Does Money Matter for Inflation in Ghana?

Kovanen, Arto - 2011

Money has only limited information value for future inflation in Ghana over a typical monetary policy implementation horizon (four to eight quarters). On the other hand, currency depreciation and demand pressures (as measured by the output gap) are shown to be important predictors of future...

Persistent link: https://www.econbiz.de/10014397412

Monetary Transmission in Low Income Countries

Montiel, Peter - 2010

, reduced role of securities markets, imperfect competition in the banking sector and the resulting high cost of bank lending to … private firms, the traditional channels (interest rate, bank lending, and asset price) are impaired in LICs. The exchange rate … channel is also undermined by central bank intervention in the foreign exchange market. These conclusions are supported by …

Persistent link: https://www.econbiz.de/10014397443

Bank Lending in Turkey : Effects of Monetary and Fiscal Policies

Aydin, Burcu - 2010

this period. Using quarterly bank-level data covering 2002-08, we find evidence that liquidity-constrained banks have … a retail-banking focus when fiscal policies are prudent.The results are statistically weak, suggesting that bank lending …

Persistent link: https://www.econbiz.de/10014397471

Financial Dollarization : The Policy Agenda

Armas, Adrián - 2006

Financial (unofficial) dollarization is widely seen as a critical source of financial fragility in both developing and emerging economies. This volume provides a rigorous and balanced perspective on the causes and implications of dollarization, and the basic policies and options to deal with it:...

Persistent link: https://www.econbiz.de/10014397485

Monetary Transmission of Global Imbalances in Asian Countries

Lee, Il Houng - 2010

The paper explores the linkages between the global and domestic monetary gaps, and estimates the effects of monetary gaps on output growth, inflation, and net saving rates using panel data for 20 Asian countries for 1980-2008. We find a significant pass-through of the global monetary gap to...

Persistent link: https://www.econbiz.de/10014397494

Safeguarding Financial Stability : Theory and Practice

Schinasi, Garry J. - 2005

How is finance related to economic processes, and why should it be viewed as a public good requiring policy action? This book provides an answer. The book develops a practical framework for safeguarding financial stability, which encompasses both prevention and resolution of problems. It also...

Persistent link: https://www.econbiz.de/10014398954