Monetary Transmission in Diverse Economies (eBook, PDF)

Redaktion: Mahadeva, Lavan

• Format: PDF

Produktbeschreibung

The transmission mechanism of monetary policy explains how monetary policy works - which variables respond to interest rate changes, when, why, how, how much and how predictably. It is vital that central banks and their observers, worldwide, understand the transmission mechanism so that they know what monetary policy can do and what it should do to stabilize inflation and output. The volume sets out different aspects of the transmission mechanism. Some chapters scrutinize the relevance of practical issues such as asymmetries, recent structural changes and estimation errors using data on the USA, the Euro area and developing countries. Other chapters focus on modelling crucial aspects such as productivity, the exchange rate and the monetary sector. These issues are counterpointed by contributions that analyse monetary policy in Japan and the UK.

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Produktdetails

• Verlag: Cambridge University Press
• Erscheinungstermin: 17. Oktober 2002
• Englisch
• ISBN-13: 9780511030192
• Artikelnr.: 38186600

Inhaltsangabe

1. Introduction - the transmission mechanism and monetary policy Lavan
Mahadeva and Peter Sinclair; 2. Are the effects of monetary policy in the
Euro area greater in recessions than in booms? Gert Peersman and Frank
Smets; 3. Supply shocks and the 'Natural rate of interest': an exploration
Jagjit S. Chadha and Charles Nolan; 4. Some econometrics issues in
measuring the monetary transmission mechanism, with an application to
developing countries Derick Boyd and Ron Smith; 5. Central bank goals,
institutional change and monetary policy: evidence from the United States
and United Kingdom V. Anton Muscatelli and Carmine Trecroci; 6. The
transmission mechanism of monetary policy near zero interest rates: the
Japanese experience, 1998-2000 Kazuo Ueda; 7. What does the UK's monetary
policy and inflation experience tell us about the transmission mechanism?
Edward Nelson; 8. Modelling the transmission mechanism of monetary policy
Peter Westaway; 9. Empirical evidence for credit effects in the
transmission mechanism of the United Kingdom K. Alec Chrystal and Paul
Mizen; 10. Uncovered interest parity with fundamentals: a Brazilian
exchange rate forecast model Marcelo Kfoury Muinhos, Paulo Springer De
Freitas and Fabio Araujo; 11. Uncovered interest parity and the monetary
transmission mechanism G. Meredith.