04644oam 22011414 450 991078841600332120230120025720.01-4623-3566-71-4527-7333-51-283-51207-61-4519-1013-49786613824523(CKB)3360000000443446(EBL)3014571(SSID)ssj0000948694(PQKBManifestationID)11531052(PQKBTitleCode)TC0000948694(PQKBWorkID)10951880(PQKB)11289465(MiAaPQ)EBC3012569(IMF)WPIEE2006300(EXLCZ)99336000000044344620020129d2006 uf 0engur|n|---|||||txtccrA VAR Analysis of Kenya’s Monetary Policy Transmission Mechanism : How Does the Central Bank’s REPO Rate Affect the Economy? /Kevin ChengWashington, D.C. :International Monetary Fund,2006.1 online resource (29 p.)IMF Working PapersDescription based upon print version of record.1-4518-6560-0 ""Contents""; ""I. INTRODUCTION""; ""II. THE MODEL""; ""III. THE POLICY PROBLEM""; ""IV. CONCLUSIONS""; ""REFERENCES""This paper examines the impact of a monetary policy shock on output, prices, and the nominal effective exchange rate for Kenya using data during 1997–2005. Based on techniques commonly used in the vector autoregression literature, the main results suggest that an exogenous increase in the short-term interest rate tends to be followed by a decline in prices and appreciation in the nominal exchange rate, but has insignificant impact on output. Moreover, the paper finds that variations in the short-term interest rate account for significant fluctuations in the nominal exchange rate and prices, while accounting little for output fluctuations.IMF Working Papers; Working Paper ;No. 2006/300Electronic books. -- localMonetary policy -- Kenya -- Econometric modelsMoney supply -- KenyaBanks and BankingimfEconometricsimfForeign ExchangeimfMoney and Monetary PolicyimfInterest Rates: Determination, Term Structure, and EffectsimfMonetary PolicyimfTime-Series ModelsimfDynamic Quantile RegressionsimfDynamic Treatment Effect ModelsimfDiffusion ProcessesimfMonetary Policy, Central Banking, and the Supply of Money and Credit: GeneralimfFinanceimfMonetary economicsimfCurrencyimfForeign exchangeimfEconometrics & economic statisticsimfShort term interest ratesimfNominal effective exchange rateimfMonetary transmission mechanismimfVector autoregressionimfMonetary baseimfInterest ratesimfMonetary policyimfMoney supplyimfKenyaimfElectronic books. -- local.Monetary policy -- Kenya -- Econometric models.Money supply -- Kenya.Banks and BankingEconometricsForeign ExchangeMoney and Monetary PolicyInterest Rates: Determination, Term Structure, and EffectsMonetary PolicyTime-Series ModelsDynamic Quantile RegressionsDynamic Treatment Effect ModelsDiffusion ProcessesMonetary Policy, Central Banking, and the Supply of Money and Credit: GeneralFinanceMonetary economicsCurrencyForeign exchangeEconometrics & economic statisticsShort term interest ratesNominal effective exchange rateMonetary transmission mechanismVector autoregressionMonetary baseInterest ratesMonetary policyMoney supplyCheng Kevin1546592DcWaIMFBOOK9910788416003321A VAR Analysis of Kenya’s Monetary Policy Transmission Mechanism3802296UNINA