Monetary policy effectiveness in China: Evidence from a FAVAR model
نویسندگان
چکیده
منابع مشابه
Threshold Effects in the Monetary Policy Reaction Function: Evidence from Central Bank of Iran
Determining how monetary policy makers react to changes in key economic variables has been of major interest to monetary economists. Estimates of monetary policy rules (reaction functions) are a widely used method for doing this. Behavior differs under different policy regimes, as in rule-based systems or chronic inflation. In practice, estimates of instrument rules have been used to descri...
متن کاملCentral Bank Transparency and Monetary Policy Effectiveness
The paper concentrates on the conditions, contingencies and determinants of central bank transparency and communication. From the state of the economy and the quality of national institutions, to the structure of monetary policy committees, the personality of the governor and the nature of the monetary policy framework - with a particular focus on the case of inflation targeting, there i...
متن کاملBank Regulation and Monetary Policy Effectiveness: Evidence from the U.S. States Liberalization
This paper studies the impact of geographic banking deregulation on the effectiveness of monetary policy. State-level removal of restrictions on interstate banking strengthened the effect of monetary policy on bank lending. This effect was driven by small banks affiliated with bank holding companies. Following interstate deregulation affiliated banks reallocate assets towards securities and awa...
متن کاملThe Effect of Financial Globalization on Monetary Policy Discipline: The Evidence from 22 Developing Countries
The literature on the benefits and costs of financial globalization for developing countries has exploded in recent years. There seems to be a consensus that financial globalization has had a "discipline effect" on monetary policy, because it has reduced the returns from using monetary policy to stabilize the output. As a result, monetary policy over recent years has placed more emphasis o...
متن کاملIn a Model of Monetary Policy
Economic Fluctuations. Any opinions expressed are those of the authors and not those of the National Bureau of Economic Research.
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Journal of International Money and Finance
سال: 2014
ISSN: 0261-5606
DOI: 10.1016/j.jimonfin.2014.05.007