Problem Statement The framework of this study is consisted of the countries of zone CFA and in fact the two central banks (BCEAO and BEAC) in charge of the monetary policy implementation. There was a great resurgence of interest these last years on the question in the way of leading the monetary...

We argue that regulation can improve the performance of conventional banks up to a limit, but cannot eliminate the deficiencies resulting from the use of the conventional loan contract. Islamic finance requires complicated and costly procedures compared to conventional finance. Yet, it has...

The objective of this study is to examine the determinants of MIR rate in the Euro area for the period 2003Q1-2015Q3. By employing Fixed Effects, Random Effects and Dynamic OLS (DOLS) as econometric methodologies, I examine if the MIR rate is affected by the following macroeconomic factors:...

In economies without friction, where money as a means of exchange has no role, the existence of the rate of interest would have no efficiency consequence. Once a friction that justifies the use of a means of exchange is introduced in the macroeconomic model, the inefficiencies resulting from the...

This paper assesses how changes in the monetary policy rate transmit to the lending rates for the consumer, mortgage, SME, and corporate loans in the Czech Republic. It further examines whether this interest rate pass-through is stable or could vary at different levels of bank competition,...

Fisher hypothesis provides theoretical framework for the study of relationship between nominal interest rate and inflation. It assumes one to one direct relationship between nominal interest rate and inflation. Modifications to this model are explained by Mundell effect, Phillips curve and...

Applying the MCMC algorithm for time varying Bayesian VAR model, I have estimated the impulse response, stochastic volatility and forecast error variance decomposition. The model allows both parameters and stochastic volatility to vary. The impulse response of unemployment, inflation and...

Sufficiently persistent rise in nominal interest increases inflation rate in short-run. This short-run comovement of nominal interest rate and inflation rate is known as Neo-Fisherianism. This paper proposes a policy based on Neo-Fisherianism to escape Zero Lower Bound (ZLB) using a textbook...

Is the Philips Curve Still Applicable in Today’s Financial Environment? The relationship between wage inflation and unemployment, is not only considered by Gali and Gambetti (2018:2) to be a “a key link of the relation between prices and economic activity” but also regarded as the focus of...

This research study carries out empirical investigations of the Fisher effect and the long-run relationship between nominal interest rates and expected inflation in Nigeria making use of annual data covering a period of half of a century. Fisher (1930) postulation is that nominal interest rates...