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Record Nr. |
UNINA9910972475703321 |
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Autore |
Maino Rodolfo |
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Titolo |
Monetary Transmission Mechanisms in Belarus / / Rodolfo Maino, Balázs Horváth |
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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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9786613824578 |
9781462348787 |
1462348785 |
9781452768298 |
1452768293 |
9781283512121 |
1283512122 |
9781451909593 |
1451909594 |
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Edizione |
[1st ed.] |
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Descrizione fisica |
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1 online resource (24 p.) |
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Collana |
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Altri autori (Persone) |
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Soggetti |
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Monetary policy - Belarus - Mathematical models |
Money supply - Belarus - Mathematical models |
Credit |
Currencies |
Currency |
Deflation |
Diffusion Processes |
Dollarization |
Dynamic Quantile Regressions |
Dynamic Treatment Effect Models |
Exchange rates |
Foreign Exchange |
Foreign exchange |
Government and the Monetary System |
Inflation |
Macroeconomics |
Monetary economics |
Monetary Policy |
Monetary policy |
Monetary Systems |
Money and Monetary Policy |
Money Multipliers |
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Money Supply |
Money |
Payment Systems |
Price Level |
Prices |
Real exchange rates |
Regimes |
Standards |
State Space Models |
Time-Series Models |
Belarus, Republic of |
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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. |
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Nota di contenuto |
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""Contents""; ""I. MONETARY POLICY TRANSMISSION MECHANISM""; ""II. CONSTRAINTS, VULNERABILITIES, AND THE ROAD AHEAD""; ""III. STEPS TOWARD ENHANCING MONETARY POLICY EFFECTIVENESS""; ""REFERENCES"" |
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Sommario/riassunto |
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We explore monetary policy transmission by estimating VAR impulse response functions to illustrate the Belarusian economy's response to unexpected changes in policy and exogenous variables. We find a significant exchange rate pass-through to prices, and interest rate policy following, rather than leading, financial market developments. Our estimated monetary policy reaction function shows the central bank striking a balance between real exchange rate stability and containing inflation. We discuss dollarization, administrative interventions, and other features complicating monetary policy transmission, review specific constraints and vulnerabilities, and conclude with observations on possible measures that could raise the effectiveness of monetary policy in Belarus. |
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