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|z 9781451962789
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|a Tsangarides, Charalambos.
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|a Monetary Policy Transmission in Mauritius Using a VAR Analysis /
|c Charalambos Tsangarides.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2010.
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|a 1 online resource (33 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a Applying commonly used vector autoregression (VAR) techniques, this paper investigates the transmission mechanism of monetary policy on output and prices for Mauritius, using data for 1999-2009. The results show that (i) an unexpected monetary policy tightening-an increase in the Bank of Mauritius policy interest rate-leads to a decline in prices and output but the effect on output is weaker; (ii) an unexpected decrease in the money supply or an unexpected increase in the nominal effective exchange rate result in a decrease in prices; and (iii) variations of the policy variables account for small a percentage of the fluctuations in output and prices. Taken together, these results suggest a rather weak monetary policy transmission mechanism. Finally, we find some differences in the transmission mechanism depending on whether core or headline consumer price index is used in the estimations.
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|a Mode of access: Internet
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|a IMF Working Papers; Working Paper ;
|v No. 2010/036
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2010/036/001.2010.issue-036-en.xml
|z IMF e-Library
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