Monetary Policy Transmission in the Eastern Caribbean Currency Union is popular PDF and ePub book, written by Ms.Alla Myrvoda in 2018-03-29, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, Monetary Policy Transmission in the Eastern Caribbean Currency Union can be Read Online from any device for your convenience.
Monetary Policy Transmission in the Eastern Caribbean Currency Union Book PDF Summary
This paper empirically investigates international and domestic monetary policy transmission mechanisms in the Eastern Caribbean Currency Union (ECCU). We assess interest rate pass-through of both the U.S. policy rate and the ECCU minimum saving deposit rate (MSR) into domestic interest rates through the interest rate channel. While economic theory suggests that the international pass-through should be high in small open economies with fixed exchange rates and open capital accounts, our findings, based on regression analysis, point to a low long-run pass-through coefficient of the U.S. interest rate. The domestic transmission channel, however, is found to operate through changes in the MSR. The results hold for different interest rates (deposit and lending) and are supported by survey-based findings.
Detail Book of Monetary Policy Transmission in the Eastern Caribbean Currency Union PDF
- Author : Ms.Alla Myrvoda
- Release : 29 March 2018
- Publisher : International Monetary Fund
- ISBN : 9781484348291
- Genre : Business & Economics
- Total Page : 30 pages
- Language : English
- PDF File Size : 15,6 Mb
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