A Peek Inside the Black Box : The Monetary Transmission Mechanism in Japan /
This paper uses vector autoregressions to examine the monetary transmission mechanism in Japan. The empirical results indicate that both monetary policy and banks' balance sheets are important sources of shocks, that banks play a crucial role in transmitting monetary shocks to economic activity...
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| Médium: | Časopis |
| Jazyk: | English |
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Washington, D.C. :
International Monetary Fund,
1999.
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| Edice: | IMF Working Papers; Working Paper ;
No. 1999/137 |
| On-line přístup: | Full text available on IMF |