The Resource The effectiveness of monetary policy in small open economies : an empirical investigation, by Keyra Primus

The effectiveness of monetary policy in small open economies : an empirical investigation, by Keyra Primus

Label
The effectiveness of monetary policy in small open economies : an empirical investigation
Title
The effectiveness of monetary policy in small open economies
Title remainder
an empirical investigation
Statement of responsibility
by Keyra Primus
Creator
Contributor
Author
Issuing body
Publisher
Subject
Language
eng
Summary
This paper examines the relative effectiveness of the use of indirect and direct monetary policy instruments in Barbados, Jamaica and Trinidad and Tobago, by estimating a restricted Vector Autoregressive model with Exogenous Variables (VARX). The study assumes that the central bank conducts monetary policy using a Taylor-type rule and it evaluates the effects of a reserve requirement policy. The results show that although a positive shock to the policy interest rate has a direct effect on commercial banks' interest rates, there is a weak transmission to the real variables. Furthermore, an increase in the required reserve ratio is successful in reducing private sector credit and excess reserves, while at the same time alleviating pressures on the exchange rate. The findings therefore indicate that central banks in small open economies should consider using reserve requirements as a complement to interest rate policy, to achieve their macroeconomic objectives
Member of
Cataloging source
DJB
Dewey number
332.46
Government publication
international or intergovernmental publication
Illustrations
illustrations
http://bibfra.me/vocab/relation/imfstaff
GH7gpl13AAg
Index
no index present
Literary form
non fiction
Nature of contents
  • dictionaries
  • bibliography
Series statement
IMF working paper
Series volume
WP/16/189
Label
The effectiveness of monetary policy in small open economies : an empirical investigation, by Keyra Primus
Publication
Copyright
Note
  • "September 2016."
  • At head of title: International Monetary Fund, Middle East and Central Asia Department
Bibliography note
Includes bibliographical references (pages 23-25)
http://library.link/vocab/branchCode
  • net
Carrier category
online resource
Carrier category code
cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
txt
Content type MARC source
rdacontent
Control code
ocn960853089
Extent
1 online resource (39 pages)
Form of item
online
Isbn
9781475536874
Media category
computer
Media MARC source
rdamedia
Media type code
c
Other control number
10.5089/9781475536874.001
Other physical details
color illustrations
http://library.link/vocab/ext/overdrive/overdriveId
960632
http://library.link/vocab/recordID
.b35143976
Specific material designation
remote
System control number
  • (OCoLC)960853089
  • imf1475536879

Library Locations

    • Deakin University Library - Geelong Waurn Ponds CampusBorrow it
      75 Pigdons Road, Waurn Ponds, Victoria, 3216, AU
      -38.195656 144.304955
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