Lost in Transmission? The Effectiveness of Monetary Policy Transmission Channels in the GCC Countries / / Serhan Cevik, Katerina Teksoz
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| Autore: |
Cevik Serhan
|
| Titolo: |
Lost in Transmission? The Effectiveness of Monetary Policy Transmission Channels in the GCC Countries / / Serhan Cevik, Katerina Teksoz
|
| Pubblicazione: | Washington, D.C. : , : International Monetary Fund, , 2012 |
| Edizione: | 1st ed. |
| Descrizione fisica: | 1 online resource (36 p.) |
| Disciplina: | 332.152 |
| Soggetto topico: | Transmission mechanism (Monetary policy) |
| Econometrics | |
| Foreign Exchange | |
| Money and Monetary Policy | |
| Model Construction and Estimation | |
| Price Level | |
| Inflation | |
| Deflation | |
| Monetary Policy, Central Banking, and the Supply of Money and Credit: General | |
| Money Supply | |
| Credit | |
| Money Multipliers | |
| Monetary Policy | |
| Economywide Country Studies: Asia including Middle East | |
| Time-Series Models | |
| Dynamic Quantile Regressions | |
| Dynamic Treatment Effect Models | |
| Diffusion Processes | |
| State Space Models | |
| Currency | |
| Foreign exchange | |
| Monetary economics | |
| Econometrics & economic statistics | |
| Exchange rates | |
| Bank credit | |
| Exchange rate arrangements | |
| Structural vector autoregression | |
| Monetary transmission mechanism | |
| Money | |
| Econometric analysis | |
| Monetary policy | |
| Soggetto geografico: | United States |
| Altri autori: |
TeksozKaterina
|
| Note generali: | Description based upon print version of record. |
| Nota di bibliografia: | Includes bibliographical references. |
| Nota di contenuto: | Cover; Abstract; Contents; I. Introduction; II. An Overview of The Channels of Monetary Policy Transmission; III. A Brief Overview of Economic Developments; Figures; 1. GCC: Real Non-hydrocarbon GDP Growth and Inflation, 1991-2010; 2. GCC and U.S. Nominal Short-Term Interest Rates, 2004-2010; IV. Empirical Methodology; A. The Benchmark SVAR Specification; B. Data Overview; Tables; 1. Unit Root Tests Results for GCC Countries; V. Estimation Results; 2. Specification tests of the GCC SVAR; VI. Analyzing the Robustness of the Results; 3. Estimated Contemporaneous SVAR Coefficients, 1900-2010 |
| 4. GCC: Variance Decomposition (Percent of Total Variance)VII. Conclusion; Appendix Figures; 1. GCC: Impulse Responses with Bootstrapped Confidence Intervals; 2. Bahrain: Impulse Responses with Bootstrapped Confidence Intervals; 3. Kuwait: Impulse Responses with Bootstrapped Confidence Intervals; 4. Oman: Impulse Responses with Bootstrapped Confidence Intervals; 5. Qatar: Impulse Responses with Bootstrapped Confidence Intervals; 6. Saudi Arabia: Impulse Responses with Bootstrapped Confidence Intervals; 7. U.A.E.: Impulse Responses with Bootstrapped Confidence Intervals | |
| 8. GCC: Variance Decomposition with Bootstrapped Confidence Intervals9. Bahrain: Variance Decomposition with Bootstrapped Confidence Intervals; 10. Kuwait: Variance Decomposition with Bootstrapped Confidence Intervals; 11. Oman: Variance Decomposition with Bootstrapped Confidence Intervals; 12. Qatar: Variance Decomposition with Bootstrapped Confidence Intervals; 13. Saudi Arabia: Variance Decomposition with Bootstrapped Confidence Intervals; 14. U.A.E.: Variance Decomposition with Bootstrapped Confidence Intervals; References | |
| Sommario/riassunto: | This paper empirically investigates the effectiveness of monetary policy transmission in the Gulf Cooperation Council (GCC) countries using a structural vector autoregressive model. The results indicate that the interest rate and bank lending channels are relatively effective in influencing non-hydrocarbon output and consumer prices, while the exchange rate channel does not appear to play an important role as a monetary transmission mechanism because of the pegged exchange rate regimes. The empirical analysis suggests that policy measures and structural reforms - strengthening financial intermediation and facilitating the development of liquid domestic capital markets - would advance the effectiveness of monetary transmission mechanisms in the GCC countries. |
| Titolo autorizzato: | Lost in Transmission? The Effectiveness of Monetary Policy Transmission Channels in the GCC Countries |
| ISBN: | 1-4755-4120-1 |
| 1-4755-2218-5 | |
| Formato: | Materiale a stampa  |
| Livello bibliografico | Monografia |
| Lingua di pubblicazione: | Inglese |
| Record Nr.: | 9910826196603321 |
| Lo trovi qui: | Univ. Federico II |
| Opac: | Controlla la disponibilità qui |
Serie:
IMF Working Papers; Working Paper ; ; No. 2012/191