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Is the monetary policy rate effective? : recent evidence from Ghana

Akosah, Nana K. - 2015

contemporaneously to output and inflationary pressures. Inflation is mostly driven by interest rate shock over the medium to long term …, pointing to an impact of monetary policy. In the short term, however, exchange rate shock has relatively larger influence on …

Persistent link: https://www.econbiz.de/10011326532

Assessing the Effects of a Policy Rate Shock on Market Interest Rates : Interest Rate Pass-Through with a FAVAR Model - The Case of Turkey for the Inflation-Targeting Period

Varlik, Serdar - 2018

positive policy rate shock positively for all periods and have a hump shape for government debt security yields as well as for … all interest rates to the policy shock increase; (iii) the responses to the policy shock of credit interest rates with …

Persistent link: https://www.econbiz.de/10012915255

Ganando grados de libertad : el manejo de la política monetaria en LATAM-5

Basco, Emiliano; Katz, Sebastián; Libonatti, Luis - 2023 - Esta versión: Noviembre 2023

By examining the reaction functions of the Central Banks of Brazil, Chile, Colombia, Mexico, and Peru (LATAM-5) over the period 2002-2019, this article explores the degree to which the adoption of inflation targeting regimes allowed these economies to have greater room of manouvre in conducting...

Persistent link: https://www.econbiz.de/10014433825

The effects of structural shocks on macroeconomic fundamentals under aggressive monetary policy : the case of Turkey

Güngör, Mahmut Sami; Güloğlu, Bülent - In: International journal of business and economic sciences … 12 (2019) 2, pp. 7-21

prior distribution of structural parameters and shock processes are determined according to the literature. Then, we … consistent with theoretical framework of the new Keynesian synthesis. Besides, the historical shock decompositions of endogenous … monetary policy increases the effects of monetary policy shock on inflation while its impact on output gap and interest rate …

Persistent link: https://www.econbiz.de/10012239944

Structural estimates of the South African sacrifice ratio

Gereziher, Hayelom Yrgaw; Nuru, Naser Yenus - 2021

This paper estimates the output cost of fighting inflation-the sacrifice ratio-for the South African economy using quarterly data spanning the period 1998Q1-2019Q3. To compute the sacrifice ratio, the structural vector autoregressive model developed by Cecchetti and Rich (2001) based on...

Persistent link: https://www.econbiz.de/10012422994

Financial Stability and Interest-Rate Policy : A Quantitative Assessment of Costs and Benefits

Pescatori, Andreas - 2016

Should monetary policy use its short-term policy rate to stabilize the growth in household credit and housing prices with the aim of promoting financial stability? We ask this question for the case of Canada. We find that to a first approximation, the answer is no- especially when the economy is...

Persistent link: https://www.econbiz.de/10012982429

Foreign Exchange Volatility Under Inflation Targeting in Uganda : An SVAR Approach

Lukwago, Stephen - 2016

In July 2011, Uganda reformed its monetary policy framework citing “challenges of macroeconomic management and the rapid growth and diversification of the financial system” MPC July (2011). This paper reviews the effect of foreign exchange interventions on the inflation target policy in...

Persistent link: https://www.econbiz.de/10012985181

Business cycle synchronization : is it affected by inflation targeting credibility?

Delgado-Fuentealba, Carlos Leandro; Araya, Iván; Pino, … - In: SERIEs : Journal of the Spanish Economic Association 11 (2020) 2, pp. 157-177

We empirically study the impact of inflation targeting credibility on business cycle synchronization with G-7 economies. To do this, we use a sample of 15 inflation targeting countries to develop and calculate a reputation-based credibility measure for long- and short-term memory. By using...

Persistent link: https://www.econbiz.de/10012240612

A macroeconometric assessment of Minsky's Financial Instability Hpothesis

Greenwood-Nimmo, Matthew; Tarassow, Artur - 2013

The Financial Instability Hypothesis associated with Hyman Minsky has profound implications for the conduct of monetary policy in modern capitalist economies. At its core is the proposition that the central bank may contribute to the financial fragility of leveraged firms in its pursuit of...

Persistent link: https://www.econbiz.de/10010425830

Remittance inflows and state-dependent monetary policy transmission in developing countries

Machasio, Immaculate; Tillmann, Peter - 2016

Remittance inflows from overseas workers are an important source of foreign funding for developing and emerging economies. The literature is in- conclusive about the cyclical nature of remittance inflows. To the extent remittances are procyclical they pose a challenge to monetary policy: a...

Persistent link: https://www.econbiz.de/10011552526