Understanding the monetary policy transmission mechanism is pivotal for the design of an effective monetary policy. In this regard, the coexistence of interest rate and cost channel of monetary policy has raised important implications for the conduct of monetary policy. This article estimates a...

The role of government in achieving economic growth through its fiscal policy, particularly spending policy cannot be overlooked. Investigation of public spending policy and its transmission mechanism to sustainable growth is imperative to the ultimate objective of welfare maximization. This...