Monetary Policy Transmission in the GCC Countries is popular PDF and ePub book, written by Mr.Raphael A. Espinoza in 2012-05-01, 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 GCC Countries can be Read Online from any device for your convenience.
Monetary Policy Transmission in the GCC Countries Book PDF Summary
The GCC countries maintain a policy of open capital accounts and a pegged (or nearly-pegged) exchange rate, thereby reducing their freedom to run an independent monetary policy. This paper shows, however, that the pass-through of policy rates to retail rates is on the low side, reflecting the shallowness of money markets and the manner in which GCC central banks operate. In addition to policy rates, the GCC monetary authorities use reserve requirements, loan-to-deposit ratios, and other macroprudential tools to affect liquidity and credit. Nonetheless, a panel vector auto regression model suggests that U.S. monetary policy has a strong and statistically significant impact on broad money, non-oil activity, and inflation in the GCC region. Unanticipated shocks to broad money also affect prices but do not stimulate growth. Continued efforts to develop the domestic financial markets will increase interest rate pass-through and strengthen monetary policy transmission.
Detail Book of Monetary Policy Transmission in the GCC Countries PDF
- Author : Mr.Raphael A. Espinoza
- Release : 01 May 2012
- Publisher : International Monetary Fund
- ISBN : 9781475505092
- Genre : Business & Economics
- Total Page : 53 pages
- Language : English
- PDF File Size : 8,8 Mb
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