Cargando…
Lost in transmission? : the effectiveness of monetary policy transmission channels in the GCC countries /
"This paper empirically investigates the effectiveness of monetary policy transmission in the Gulf Cooperation Council (GCC) countries using a structural vector autoregressive model. The results indicate that the interest rate and bank lending channels are relatively effective in influencing no...
| Clasificación: | Libro Electrónico |
|---|---|
| Autores principales: | , |
| Autor Corporativo: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
[Washington, D.C.] :
International Monetary Fund,
©2012.
|
| Colección: | IMF working paper ;
WP/12/191. |
| Temas: | |
| Acceso en línea: | Texto completo |
| Sumario: | "This paper empirically investigates the effectiveness of monetary policy transmission in the Gulf Cooperation Council (GCC) countries using a structural vector autoregressive model. The results indicate that the interest rate and bank lending channels are relatively effective in influencing non-hydrocarbon output and consumer prices, while the exchange rate channel does not appear to play an important role as a monetary transmission mechanism because of the pegged exchange rate regimes. The empirical analysis suggests that policy measures and structural reforms - strengthening financial intermediation and facilitating the development of liquid domestic capital markets - would advance the effectiveness of monetary transmission mechanisms in the GCC countries"--Page 1 |
|---|---|
| Notas: | Title from PDF title page (IMF Web site, viewed July 26, 2012). "Middle East and Central Asia Department." "July 2012." |
| Descripción Física: | 1 online resource (34 pages) : color charts |
| Bibliografía: | Includes bibliographical references (pages 32-34). |
| ISBN: | 9781475599589 1475599587 1475505396 9781475505399 1475522185 9781475522181 1475541201 9781475541205 |