Monetary transmission mechanisms in Belarus / / prepared by Balazs Horvath and Rodolfo Maino

• Autore: Horvath Balazs
• Pubblicazione: [Washington, D.C.], : International Monetary Fund, c2006
• Edizione: 1st ed.
• Descrizione fisica: 1 online resource (24 p.)
• Soggetto topico: Monetary policy - Belarus - Mathematical models; Money supply - Belarus - Mathematical models
• Altri autori: MainoRodolfo <1961->
• Note generali: "November 2006".
• Nota di bibliografia: Includes bibliographical references.
• Nota di contenuto: ""Contents""; ""I. MONETARY POLICY TRANSMISSION MECHANISM""; ""II. CONSTRAINTS, VULNERABILITIES, AND THE ROAD AHEAD""; ""III. STEPS TOWARD ENHANCING MONETARY POLICY EFFECTIVENESS""; ""REFERENCES""
• Sommario/riassunto: 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.
• Titolo autorizzato: Monetary Transmission Mechanisms in Belarus
• ISBN: 1-4623-4878-5; 1-4527-6829-3; 1-283-51212-2; 1-4519-0959-4; 9786613824578
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9910817461403321
• Lo trovi qui: Univ. Federico II
• Serie: IMF working paper ; ; WP/06/246.