Best Seller Transmission Mechanisms of Monetary Policy in Armenia

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Transmission Mechanisms of Monetary Policy in Armenia High quality books

Transmission Mechanisms of Monetary Policy in Armenia
By:Ms. Era Dabla-Norris,Holger Floerkemeier
Published on 2006-11-01 by International Monetary Fund

This paper examines monetary policy transmission in Armenia in light of the authorities'' intention to shift to an inflation-targeting regime over the medium term. We find that the capability of monetary policy to influence economic activity and inflation is still limited, as important channels of monetary transmission are not fully functional. In particular, the interest rate channel remains weak, even though there is some evidence of transmission to prices of changes in the repo rate, the central bank''s new operating target for inflation. As in other emerging and transition economies with a high degree of dollarization, the exchange rate channel has a strong impact on the inflation rate. Moreover, we find that inflation does respond to broad money shocks, once foreign currency deposits are included.

This Book was ranked at 13 by Google Books for keyword Credit channel.

Book ID of Transmission Mechanisms of Monetary Policy in Armenia's Books is YQlrIClf3u8C, Book which was written byMs. Era Dabla-Norris,Holger Floerkemeierhave ETAG "vE5YxAN5bUs"

Book which was published by International Monetary Fund since 2006-11-01 have ISBNs, ISBN 13 Code is 9781451909616 and ISBN 10 Code is 1451909616

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