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Aspects of the Monetary Transmission Mechanism Under Exchange Rate Targeting
By:Mr. Joaquim Vieira Ferreira Levy,Mr. Ioannis Halikias
Published on 1997-04-01 by International Monetary Fund

This paper examines monetary transmission in France using the vector autoregression methodology. Interest rates are decomposed into external and domestic components, and a nonrecursive contemporaneous structure is used to identify the system. Innovations in the external component are found to have a significant impact on economic activity, while innovations in the domestic premium have a statistically negligible effect, suggesting that interest rate hikes in defense of the franc may have had a smaller impact on the economy than usually thought. The paper also discusses some implications of Economic and Monetary Union and provides evidence concerning the importance of the credit channel in France.
This Book was ranked at 23 by Google Books for keyword Credit channel.
Book ID of Aspects of the Monetary Transmission Mechanism Under Exchange Rate Targeting's Books is u39oa4V1Cn4C, Book which was written byMr. Joaquim Vieira Ferreira Levy,Mr. Ioannis Halikiashave ETAG "m+HfZDfe86Q"
Book which was published by International Monetary Fund since 1997-04-01 have ISBNs, ISBN 13 Code is 9781451893526 and ISBN 10 Code is 1451893523
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Book which have "38 Pages" is Printed at BOOK under CategoryBusiness and Economics
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