[PDF] Top 20 Empirical Essays on Monetary Policy and Transmission

... contractionary monetary policy shock (rather than appreciation) that is also found in VAR models for industrial economies (Sims, 1992; Grilli and Roubini, 1996; Racette and Raynauld, ... See full document

... the empirical literature on the transmission of monetary policy shocks has been the adoption of external instruments thought to provide direct measures of the structural policy ... See full document

... However, these studies have a drawback. They do not take into account the relative weight of each component of aggregate demand in the calculation. Since usually consumption accounts for a much bigger portion in the GDP ... See full document

... of transmission, contractionary interest rate (raising interest rate) makes bonds relatively less profitable to equities forcing equities prices to ...of monetary transmission mechanism, specifically ... See full document

... the empirical investigation of the channels through which the effects of monetary policy are transmitted to the real sector was conducted based on the IS– LM ...with empirical results led to ... See full document

... on policy reaction ...current policy rate and rational expectations of future policy rates based on the current policy reaction ...monetary policy. Specifically, in some ... See full document

... the transmission of monetary impulses, and the central bank’s ability to stabilise the ...a policy rate hike can be interpreted by informationally constrained agents either as a deviation of the ... See full document

... Selected monetary indicators …………….………………………... Summary of monetary policy transmission studies in developed countries …………………………………………………………… Summary of monetary policy ... See full document

... the monetary transmission ...Optimal policy in a setting with occasionally binding constraints modelled in line with Mendoza (2010) is studied in Benigno et ...the policy maker should wait and ... See full document

... Permanent repository link: http://openaccess.city.ac.uk/7986/ Link to published version: http://dx.doi.org/10.1016/j.jedc.2014.04.010 Copyright and reuse: City Research Online aims to ma[r] ... See full document

... The first three regressions are the ones estimated with GMM. In column I we include the Lerner index of bank market power as the only bank characteristic. The coefficient on CB rate is negative and statistically ... See full document

... 136 B.18 Impact of a 1 and 2 standard deviation increase in the federal funds rate in the high financial stress regime.. C.1 A 1 standard deviation shock in the WTI oil price..[r] ... See full document

... The strong performance of Indonesia‘s balance of payment during the last seven years gave an opportunity to strengthen the country‘s foreign reserves. At the end of 2009, Indonesia‘s foreign reserves achieved ... See full document

... Separately, Ferreira da Silva (2002), using data from 40 countries over the period 1960- 1997, showed that countries with deeper financial markets experience smoother business cycles. In the same spirit, Beck, Chen, ... See full document

... and the fourth terms appear only in open economies. Specifically, the third terms capture the interdependence: economic activities abroad affect the domestic economy via international relative prices. The qualitative ... See full document

... Separately, Ferreira da Silva (2002), using data from 40 countries over the period 1960- 1997, showed that countries with deeper financial markets experience smoother business cycles. In the same spirit, Beck, Chen, ... See full document

... Keynesian monetary analysis with demand channels only, a policymaker’s job is ...the policy change stabilizes both business cycle ‡uctuations and in‡ation, policymakers will not face intricate policy ... See full document

... prevalent empirical approach is the cointegration method developed by Engle and Granger (1987) to identify a long-run equilibrium relationship between house prices and other relevant economic ...their ... See full document

... the monetary model were met casts some doubts on some of the ...the monetary model is built on two important assumptions of equilibrium money markets in both countries and that the PPP theory should hold at ... See full document

... While empirical results of the second chapter show that Islamic full-fledged may relatively have more limited exposure to conventional banks, it does not necessarily imply that they are not in competition with ... See full document