1 option
Monetary Policy Transmission in an Emerging Market Setting / Ila Patnaik, Ajay Shah, Rudrani Bhattacharya.
- Format:
- Book
- Government document
- Author/Creator:
- Patnaik, Ila.
- Series:
- IMF Working Papers; Working Paper ; No. 2011/005
- IMF Working Papers
- Language:
- English
- Subjects (All):
- Monetary policy.
- Physical Description:
- 1 online resource (35 p.)
- Place of Publication:
- Washington, D.C. : International Monetary Fund, 2011.
- Language Note:
- English
- Summary:
- Some emerging economies have a relatively ineffective monetary policy transmission owing to weaknesses in the domestic financial system and the presence of a large and segmented informal sector. At the same time, small open economies can have a substantial monetary policy transmission through the exchange rate channel. In order to understand this setting, we explore a unified treatment of monetary policy transmission and exchangerate pass-through. The results for an emerging market, India, suggest that the most effective mechanism through which monetary policy impacts inflation runs through the exchange rate.
- Contents:
- Cover Page; Title Page; Copyright Page; Contents; 1 Introduction; 2 Estimation strategy; 3 The data; 4 Empirical results; 5 Robustness checks; 5.1 Alternative specifications; 5.2 Choice of price index; 6 Conclusions; 7 Appendix: Results of VECM analysis of the model with oil price; Footnotes
- Notes:
- Description based upon print version of record.
- Includes bibliographical references.
- Description based on online resource; title from PDF title page (ebrary, viewed September 24, 2014).
- ISBN:
- 9786613870674
- 9781462324446
- 1462324444
- 9781455253890
- 1455253898
- 9781283558228
- 128355822X
- 9781455214884
- 1455214884
The Penn Libraries is committed to describing library materials using current, accurate, and responsible language. If you discover outdated or inaccurate language, please fill out this feedback form to report it and suggest alternative language.