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Record Nr. |
UNINA9910816278303321 |
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Autore |
Poddar Tushar |
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Titolo |
The Monetary Transmission Mechanism in Jordan / / Tushar Poddar, Hasmik Khachatryan, Randa Sab |
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Pubbl/distr/stampa |
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Washington, D.C. : , : International Monetary Fund, , 2006 |
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ISBN |
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1-4623-4577-8 |
1-4527-2492-X |
1-283-51375-7 |
9786613826206 |
1-4519-0844-X |
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Edizione |
[1st ed.] |
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Descrizione fisica |
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1 online resource (28 p.) |
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Collana |
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Altri autori (Persone) |
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KhachatryanHasmik |
SabRanda |
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Soggetti |
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Monetary policy - Jordan |
Bank credit |
Banking |
Banks and Banking |
Credit |
Deposit rates |
Finance |
Finance: General |
Foreign exchange reserves |
General Financial Markets: General (includes Measurement and Data) |
Interest rates |
Interest Rates: Determination, Term Structure, and Effects |
International reserves |
Monetary economics |
Monetary Policy |
Monetary policy |
Monetary Policy, Central Banking, and the Supply of Money and Credit: General |
Monetary transmission mechanism |
Money and Monetary Policy |
Stock exchanges |
Stock markets |
Jordan Economic conditions |
Jordan |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Note generali |
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Nota di bibliografia |
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Includes bibliographical references (p. 26). |
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Nota di contenuto |
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""Contents""; ""I. INTRODUCTION""; ""II. CHANNELS OF MONETARY TRANSMISSION""; ""III. CONDUCT OF MONETARY POLICY IN JORDAN""; ""IV. EVIDENCE FROM VARS""; ""V. CONCLUSIONS AND POLICY IMPLICATIONS""; ""IMPULSE RESPONSES""; ""GRANGER CAUSALITY TESTS SUMMARY""; ""REFERENCES"" |
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Sommario/riassunto |
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This paper examines monetary transmission in Jordan using the vector autoregressive approach. We find that the real 3-month CD rate, the Central Bank's operating target, affects bank retail rates and that monetary policy, measured by the spread between the 3-month CD rate and the U.S. Federal Funds rate, is effective in influencing foreign reserves. We do not find evidence of monetary policy affecting output. Output responds very little to changes in bank lending rates. Furthermore, equity prices and the exchange rate are not significant channels for transmitting monetary policy to economic activity. The effect of monetary policy on the stock market seems insignificant. |
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