Papua New Guinea; Selected Issues and Statistical Appendix
This paper analyzes the workings and effectiveness of the monetary transmission mechanism in Papua New Guinea. The paper is organized as follows: it describes the current institutional structure in Papua New Guinea; interest rate is discussed; the evidence from vector autoregression analysis on the relationship between monetary policy variables and output and prices is considered; finally, implications are included. The Bank of Papua New Guinea (BPNG) uses a reserve money framework to conduct monetary policy operations. A macroeconomic balance approach estimates the REER, which simultaneously achieves internal and external balance.
Year of publication: |
2008-03-12
|
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Institutions: | International Monetary Fund (IMF) ; International Monetary Fund |
Subject: | Selected issues | Statistical annexes | Export performance | Financial sector | Economic indicators | Interest rates | Exchange rates | Balance of payments statistics | Financial statistics | Monetary statistics | Tax rates | Taxation | inflation | money growth | monetary fund | foreign exchange | monetary conditions | increase in inflation | inflationary pressure | low inflation | monetary condition | inflationary pressures | monetary aggregate | lower inflation | central bank | monetary policy | high inflation | open market operations | inflation rate |
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