Verfügbarkeit: Monetary Transmission Mechanisms in Belarus

Monetary Transmission Mechanisms in Belarus:

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, rat...

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1. Verfasser:	Maino, Rodolfo (VerfasserIn)
Format:	Elektronisch E-Book
Sprache:	English
Veröffentlicht:	Washington, D.C International Monetary Fund 2006
Schriftenreihe:	IMF Working Papers Working Paper No. 06/246
Online-Zugang:	UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 URL des Erstveröffentlichers
Zusammenfassung:	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
Beschreibung:	1 Online-Ressource (22 p)
ISBN:	1451865066 9781451865066

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spelling	Maino, Rodolfo Verfasser aut Monetary Transmission Mechanisms in Belarus Maino, Rodolfo Washington, D.C International Monetary Fund 2006 1 Online-Ressource (22 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 06/246 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 Online-Ausg Horváth, Balázs Sonstige oth http://elibrary.imf.org/view/IMF001/04716-9781451865066/04716-9781451865066/04716-9781451865066.xml Verlag URL des Erstveröffentlichers Volltext
spellingShingle	Maino, Rodolfo Monetary Transmission Mechanisms in Belarus
title	Monetary Transmission Mechanisms in Belarus
title_auth	Monetary Transmission Mechanisms in Belarus
title_exact_search	Monetary Transmission Mechanisms in Belarus
title_exact_search_txtP	Monetary Transmission Mechanisms in Belarus
title_full	Monetary Transmission Mechanisms in Belarus Maino, Rodolfo
title_fullStr	Monetary Transmission Mechanisms in Belarus Maino, Rodolfo
title_full_unstemmed	Monetary Transmission Mechanisms in Belarus Maino, Rodolfo
title_short	Monetary Transmission Mechanisms in Belarus
title_sort	monetary transmission mechanisms in belarus
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