This paper investigates whether distributional effect arising from the impact of monetary policy on bank credits will be different when monetary policy is asymmetric. Methodologically, we use a set of high frequency panel data for Taiwan commercial banks and adopt Arellano and Bond's (1991)...

This paper investigates how a change in monetary policy affects the degree and the speed of exchange rate pass-through to import prices in the emerging market economy, using a newly constructed data set from Taiwan's trading commodities. First, the analytical framework is set up following...

This paper studies the credit channel of monetary transmission in a small open economy. We develop a simple general equilibrium model by extending Bernanke and Blinder's (1988) CC-LM framework and Edwards and Vegh's (1997) banking specification. Under a floating exchange rate regime and with...