04527oam 22010934 450 991081627830332120200520144314.01-4623-4577-81-4527-2492-X1-283-51375-797866138262061-4519-0844-X(CKB)3360000000443612(EBL)3014532(SSID)ssj0000939921(PQKBManifestationID)11592408(PQKBTitleCode)TC0000939921(PQKBWorkID)10938516(PQKB)10912453(OCoLC)694141237(IMF)WPIEE2006048(MiAaPQ)EBC3014532(IMF)WPIEA2006048(EXLCZ)99336000000044361220020129d2006 uf 0engur|n|---|||||txtccrThe Monetary Transmission Mechanism in Jordan /Tushar Poddar, Hasmik Khachatryan, Randa Sab1st ed.Washington, D.C. :International Monetary Fund,2006.1 online resource (28 p.)IMF Working Papers"February 2006."1-4518-6308-X Includes bibliographical references (p. 26).""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""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.IMF Working Papers; Working Paper ;No. 2006/048Monetary policyJordanBank creditimfBankingimfBanks and BankingimfCreditimfDeposit ratesimfFinanceimfFinance: GeneralimfForeign exchange reservesimfGeneral Financial Markets: General (includes Measurement and Data)imfInterest ratesimfInterest Rates: Determination, Term Structure, and EffectsimfInternational reservesimfMonetary economicsimfMonetary PolicyimfMonetary policyimfMonetary Policy, Central Banking, and the Supply of Money and Credit: GeneralimfMonetary transmission mechanismimfMoney and Monetary PolicyimfStock exchangesimfStock marketsimfJordanEconomic conditionsJordanimfMonetary policyBank creditBankingBanks and BankingCreditDeposit ratesFinanceFinance: GeneralForeign exchange reservesGeneral Financial Markets: General (includes Measurement and Data)Interest ratesInterest Rates: Determination, Term Structure, and EffectsInternational reservesMonetary economicsMonetary PolicyMonetary policyMonetary Policy, Central Banking, and the Supply of Money and Credit: GeneralMonetary transmission mechanismMoney and Monetary PolicyStock exchangesStock marketsPoddar Tushar1630727Khachatryan Hasmik1700416Sab Randa1700417International Monetary Fund.Middle East and Central Asia Dept.DcWaIMFBOOK9910816278303321The Monetary Transmission Mechanism in Jordan4083396UNINA