Monetary transmission mechanisms in Belarus
Our rough guess is there are 5,500 words in this book.
At a pace averaging 250 words per minute, this book will take 0 hours and 22 minutes to read. With a half hour per day, this will take 1 days to read.
How long will it take you?
This book will take an estimated to read at a reading speed averaging words per minute. With 30 minutes per day, this will take to read.
Enter your reading speedYou can take one of our WPM reading speed tests to find your reading speed.
Create a free account to track your reading progress, build your reading list, and set reading goals.
Author
Contributions
- Maino, Rodolfo, 1961- - Contributor
- International Monetary Fund. Monetary and Financial Systems Dept. - Contributor
Publication
2006 - International Monetary Fund, Monetary and Financial Systems Dept., Washington, D.C, District of Columbia
Language
English
Description
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.
Subjects
Topics
Places
Times
Series Statement
- IMF working paper -- WP/06/246
Links
Reader Reviews
No reviews yet for this book.
Be the first to share your thoughts!