Monetary Transmission Mechanism in the East African Community : An Empirical Investigation /

Do changes in monetary policy affect inflation and output in the East African Community (EAC)? We find that (i) Monetary Transmission Mechanism (MTM) tends to be generally weak when using standard statistical inferences, but somewhat strong when using non-standard inference methods; (ii) when MTM is...

詳細記述

書誌詳細
第一著者: Davoodi, Hamid
その他の著者: Dixit, S. V. S., Pinter, Gabor
フォーマット: 雑誌
言語:English
出版事項: Washington, D.C. : International Monetary Fund, 2013.
シリーズ:IMF Working Papers; Working Paper ; No. 2013/039
オンライン・アクセス:Full text available on IMF
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100 1 |a Davoodi, Hamid. 
245 1 0 |a Monetary Transmission Mechanism in the East African Community :   |b An Empirical Investigation /  |c Hamid Davoodi, S. V. S. Dixit, Gabor Pinter. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2013. 
300 |a 1 online resource (59 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a Do changes in monetary policy affect inflation and output in the East African Community (EAC)? We find that (i) Monetary Transmission Mechanism (MTM) tends to be generally weak when using standard statistical inferences, but somewhat strong when using non-standard inference methods; (ii) when MTM is present, the precise transmission channels and their importance differ across countries; and (iii) reserve money and the policy rate, two frequently used instruments of monetary policy, sometimes move in directions that exert offsetting expansionary and contractionary effects on inflation-posing challenges to harmonization of monetary policies across the EAC and transition to a future East African Monetary Union. The paper offers some suggestions for strengthening the MTM in the EAC. 
538 |a Mode of access: Internet 
700 1 |a Dixit, S. V. S. 
700 1 |a Pinter, Gabor. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2013/039 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2013/039/001.2013.issue-039-en.xml  |z IMF e-Library