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035   $a(OCoLC)698585548
035   $a(IMF)WPIEE2006248
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035   $aWPIEA2006248
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100   $a20020129d2006      uf         0
101 0 $aeng
135   $aur|n|---|||||
181   $ctxt
182   $cc
183   $acr
200 10$aTransmission Mechanisms of Monetary Policy in Armenia : $eEvidence from VAR Analysis /$fEra Dabla-Norris, Holger Floerkemeier
205   $a1st ed.
210  1$aWashington, D.C. :$cInternational Monetary Fund,$d2006.
215   $a1 online resource (29 p.)
225 1 $aIMF Working Papers
300   $a"November 2006."
311 08$a9781451865080 
311 08$a1451865082 
327   $a""Contents""; ""I. INTRODUCTION""; ""II. IMPEDIMENTS FOR MONETARY POLICY TRANSMISSION IN ARMENIA""; ""III. EMPIRICAL ANALYSIS""; ""IV. SUMMARY AND POLICY CONSIDERATIONS""; ""References""
330 3 $aThis paper examines monetary policy transmission in Armenia in light of the authorities' intention to shift to an inflation-targeting regime over the medium term. We find that the capability of monetary policy to influence economic activity and inflation is still limited, as important channels of monetary transmission are not fully functional. In particular, the interest rate channel remains weak, even though there is some evidence of transmission to prices of changes in the repo rate, the central bank's new operating target for inflation. As in other emerging and transition economies with a high degree of dollarization, the exchange rate channel has a strong impact on the inflation rate. Moreover, we find that inflation does respond to broad money shocks, once foreign currency deposits are included.
410  0$aIMF Working Papers; Working Paper ;$vNo. 2006/248
606   $aMonetary policy$zArmenia (Republic)
606   $aTransmission mechanism (Monetary policy)$zArmenia (Republic)
606   $aBank credit$2imf
606   $aBanking$2imf
606   $aBanks and Banking$2imf
606   $aBanks and banking$2imf
606   $aBanks$2imf
606   $aCredit$2imf
606   $aCurrencies$2imf
606   $aCurrency$2imf
606   $aDepository Institutions$2imf
606   $aExchange rates$2imf
606   $aForeign Exchange$2imf
606   $aForeign exchange$2imf
606   $aGovernment and the Monetary System$2imf
606   $aMicro Finance Institutions$2imf
606   $aMonetary aggregates$2imf
606   $aMonetary economics$2imf
606   $aMonetary Policy, Central Banking, and the Supply of Money and Credit: General$2imf
606   $aMonetary Systems$2imf
606   $aMoney and Monetary Policy$2imf
606   $aMoney supply$2imf
606   $aMoney$2imf
606   $aMortgages$2imf
606   $aPayment Systems$2imf
606   $aRegimes$2imf
606   $aStandards$2imf
607   $aArmenia, Republic of$2imf
615  0$aMonetary policy
615  0$aTransmission mechanism (Monetary policy)
615  7$aBank credit
615  7$aBanking
615  7$aBanks and Banking
615  7$aBanks and banking
615  7$aBanks
615  7$aCredit
615  7$aCurrencies
615  7$aCurrency
615  7$aDepository Institutions
615  7$aExchange rates
615  7$aForeign Exchange
615  7$aForeign exchange
615  7$aGovernment and the Monetary System
615  7$aMicro Finance Institutions
615  7$aMonetary aggregates
615  7$aMonetary economics
615  7$aMonetary Policy, Central Banking, and the Supply of Money and Credit: General
615  7$aMonetary Systems
615  7$aMoney and Monetary Policy
615  7$aMoney supply
615  7$aMoney
615  7$aMortgages
615  7$aPayment Systems
615  7$aRegimes
615  7$aStandards
700   $aDabla-Norris$b Era$01815724
701   $aFloerkemeier$b Holger$01816443
801  0$bDcWaIMF
906   $aBOOK
912   $a9910964636003321
996   $aTransmission Mechanisms of Monetary Policy in Armenia$94372521
997   $aUNINA