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|z 9781475505399
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|a 1018-5941
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|a Cevik, Serhan.
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|a Lost in Transmission? :
|b The Effectiveness of Monetary Policy Transmission Channels in the GCC Countries /
|c Serhan Cevik, Katerina Teksoz.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2012.
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|a 1 online resource (35 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 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.
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|a Mode of access: Internet
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|a Teksoz, Katerina.
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|a IMF Working Papers; Working Paper ;
|v No. 2012/191
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2012/191/001.2012.issue-191-en.xml
|z IMF e-Library
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