Read Books Online and Download eBooks, EPub, PDF, Mobi, Kindle, Text Full Free.
The Monetary Transmission Mechanism In Egypt
Download The Monetary Transmission Mechanism In Egypt full books in PDF, epub, and Kindle. Read online The Monetary Transmission Mechanism In Egypt ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!
Book Synopsis The Monetary Transmission Mechanism in Egypt by : Rania A. Al-Mashat
Download or read book The Monetary Transmission Mechanism in Egypt written by Rania A. Al-Mashat and published by International Monetary Fund. This book was released on 2007-12 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the monetary transmission mechanism in Egypt against the background of the central bank's intention to shift to inflation targeting. It first describes the changing transmission channels over the last decade. Second, the channels are evaluated in a VAR model. The exchange rate channel plays a strong role in propagating monetary shocks to output and prices. Most other channels (bank lending, asset price) are rather weak. The interest rate channel is underdeveloped but appears to be strengthening since the introduction of the interest corridor in 2005, which bodes well for adopting inflation targeting over the medium term.
Book Synopsis Investigating the Transmission Mechanism of Monetary Policy in Egypt by : Hossam Eldin Mohammed Abdelkader Ahmed
Download or read book Investigating the Transmission Mechanism of Monetary Policy in Egypt written by Hossam Eldin Mohammed Abdelkader Ahmed and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis investigates the transmission mechanism of monetary policy in Egypt in the last four decades. To achieve this, five empirical studies are included in this thesis. The consumer"s expenditure is estimated in Chapter 3, while the investment expenditure under uncertainty is estimated in Chapters 4. Furthermore, the results of these two chapters paved the way to the next chapters, the interest rate channel, chapter 5, and the bank lending channel, Chapter 6. Moreover, Chapter 7 devoted to estimate the exchange rate channel under the regime shift. However, Chapter 2 provides all the required discussion about the economic policies and developments in the Egyptian economy for the purpose of this thesis. The time series econometrics is used in all of these chapters. The unit root tests, the Engle-Ganger two-step cointegration approach, the bounds tests, and GARCH models are used in Chapters 3 and 4. However, unit root tests, the VAR models, Granger-causality, the impulse response function, variance decomposition, the Johansen"s cointegration, and the VECM are used in Chapters 5, 6, and 7. The results of these chapters assert the existence of the channels of monetary transmission mechanism in Egypt between 1975 and 2010.
Book Synopsis Investigating the Transmission Mechanism of Monetary Policy in Egypt by : Hossam E. M. Abdelkader
Download or read book Investigating the Transmission Mechanism of Monetary Policy in Egypt written by Hossam E. M. Abdelkader and published by . This book was released on 2017-05-25 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Money in the Middle East and North Africa by : David Cobham
Download or read book Money in the Middle East and North Africa written by David Cobham and published by Routledge. This book was released on 2010-12-07 with total page 429 pages. Available in PDF, EPUB and Kindle. Book excerpt: Monetary policy in the Middle East and North African (MENA) countries remains an understudied area; this book fills an important gap by examining monetary policy frameworks and monetary policy strategies in the region. Building on the editors’ earlier book, Monetary Policy and Central Banking in the Middle East and North Africa, which focused on central bank independence issues and on exchange rate regimes, this book emphasises monetary policy strategies. Part I contains an overview of the financial markets and institutions which condition the choice of monetary policy strategy in the countries of the region, followed by single-country studies on aspects of the monetary policy frameworks of Lebanon, Egypt, Jordan, the Palestinian Territory and Turkey. Part II includes analyses of the prospects for inflation targeting in Egypt, Morocco and Tunisia, of the monetary transmission mechanism in the Gulf Cooperation Council countries, of the relative advantages of inflation targeting and exchange rate fixity with reference to Egypt, of the problem of fiscal dominance in Egypt, and of the inflationary implications of exchange rate fixity for Saudi Arabia and Kuwait. The contributors are experts from universities inside and outside the MENA region, from central banks in the region and from outside institutions such as the European Central Bank and the International Monetary Fund.
Book Synopsis Monetary Policy Transmission in Emerging Markets and Developing Economies by : Mr.Luis Brandao-Marques
Download or read book Monetary Policy Transmission in Emerging Markets and Developing Economies written by Mr.Luis Brandao-Marques and published by International Monetary Fund. This book was released on 2020-02-21 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: Central banks in emerging and developing economies (EMDEs) have been modernizing their monetary policy frameworks, often moving toward inflation targeting (IT). However, questions regarding the strength of monetary policy transmission from interest rates to inflation and output have often stalled progress. We conduct a novel empirical analysis using Jordà’s (2005) approach for 40 EMDEs to shed a light on monetary transmission in these countries. We find that interest rate hikes reduce output growth and inflation, once we explicitly account for the behavior of the exchange rate. Having a modern monetary policy framework—adopting IT and independent and transparent central banks—matters more for monetary transmission than financial development.
Author :International Monetary Fund. Middle East and Central Asia Dept. Publisher :International Monetary Fund ISBN 13 :1484338227 Total Pages :51 pages Book Rating :4.4/5 (843 download)
Book Synopsis Arab Republic of Egypt by : International Monetary Fund. Middle East and Central Asia Dept.
Download or read book Arab Republic of Egypt written by International Monetary Fund. Middle East and Central Asia Dept. and published by International Monetary Fund. This book was released on 2018-01-22 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes that past growth was characterized by a suboptimal allocation of the factors of production and a lack of dynamism in the private sector. By identifying the main constraints to private sector-led growth and higher employment generation, it suggests policies to further shift Egypt’s economic model toward increased private sector participation and integration into global value chains. To this end, reforms should aim at removing the distortions to the optimal allocation of resources in the economy and equip the labor force with the skills needed to benefit fully from future job opportunities. These reforms would also help better integrate women and youth into the job market. The authorities have embarked on a reform program to address these challenges and important steps have already been taken. Improved macrostability and a strong political commitment to reforms present an opportunity to further structural reforms that intensify private sector-led growth and job creation and strengthen trade integration.
Book Synopsis Monetary Transmission by : Mr.Ales Bulir
Download or read book Monetary Transmission written by Mr.Ales Bulir and published by International Monetary Fund. This book was released on 2015-11-20 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: We use two alternative representations of the yield curve to test the functioning of the interest rate transmission mechanism along the yield curve based on government paper in a sample of emerging market and low-income countries. We find a robust link from shortterm policy and interbank rates to longer-term bond yields. Two policy implications emerge. First, the presence of well-developed secondary financial markets does not seem to affect transmission of short term rates along the yield curve. Second, the strength of the transmission mechanism seems to be affected by the choice of the monetary regime: countries with a credible inflation targeting regime seem to have “better behaved” yield curves than those with other monetary regimes.
Book Synopsis Monetary Issues in the Middle East and North Africa Region by : Mr.Simon T Gray
Download or read book Monetary Issues in the Middle East and North Africa Region written by Mr.Simon T Gray and published by International Monetary Fund. This book was released on 2013-05-15 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper documents the main themes covered in two seminars (December 2011 and September 2012) on monetary policy and implementation at the IMF—Middle East Center for Economics and Finance, and includes country case studies. Against the backdrop of the global financial crisis and swings in cross-border capital flows, operational frameworks have become more flexible, and liquidity management has impacted the relationship between the policy rate corridor and market rates. The balance sheet structure of central banks in the Middle East and North Africa (MENA) shows differences between oil exporters and others, while a few countries have exhibited notable changes since early 2011. Collateral now has a significant financial stability function. Although only one MENA country is part of the G20, implementation of the Basel III bank capital adequacy and liquidity rules will most likely impact banks’ way of doing business in MENA countries, even if indirectly.
Book Synopsis Evolving Monetary Policy Frameworks in Low-Income and Other Developing Countries by : International Monetary Fund
Download or read book Evolving Monetary Policy Frameworks in Low-Income and Other Developing Countries written by International Monetary Fund and published by International Monetary Fund. This book was released on 2015-10-23 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past two decades, many low- and lower-middle income countries (LLMICs) have improved control over fiscal policy, liberalized and deepened financial markets, and stabilized inflation at moderate levels. Monetary policy frameworks that have helped achieve these ends are being challenged by continued financial development and increased exposure to global capital markets. Many policymakers aspire to move beyond the basics of stability to implement monetary policy frameworks that better anchor inflation and promote macroeconomic stability and growth. Many of these LLMICs are thus considering and implementing improvements to their monetary policy frameworks. The recent successes of some LLMICs and the experiences of emerging and advanced economies, both early in their policy modernization process and following the global financial crisis, are valuable in identifying desirable features of such frameworks. This paper draws on those lessons to provide guidance on key elements of effective monetary policy frameworks for LLMICs.
Author :International Monetary Fund Publisher :INTERNATIONAL MONETARY FUND ISBN 13 :9781451811858 Total Pages :43 pages Book Rating :4.8/5 (118 download)
Book Synopsis Arab Republic of Egypt: Selected Issues by : International Monetary Fund
Download or read book Arab Republic of Egypt: Selected Issues written by International Monetary Fund and published by INTERNATIONAL MONETARY FUND. This book was released on 2005-06-07 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issues paper on the Arab Republic of Egypt examines the dynamic relationship between the nominal exchange rate and prices during Egypt's exit from a managed exchange rate regime. The exit from the peg went through several phases, including a series of step devaluations between 2000 and 2002, a first attempt at a float in January 2003, and the successful transition to a unified, flexible exchange rate system in late-2004. From 2000 to 2004, the Egyptian pound experienced a cumulative depreciation of 68 percent against the U.S. dollar.
Book Synopsis Inflation Targeting in MENA Countries by : Mongi Boughzala
Download or read book Inflation Targeting in MENA Countries written by Mongi Boughzala and published by Palgrave Macmillan. This book was released on 2011-07-26 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume assesses the current state of play for Middle East and North African countries, in the light of wider work on inflation targeting, and provides lessons from the evolution of monetary policy in Europe.
Book Synopsis The Transmission Mechanism in Armenia by : International Monetary Fund
Download or read book The Transmission Mechanism in Armenia written by International Monetary Fund and published by International Monetary Fund. This book was released on 2010-11-01 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: The introduction of inflation targeting in 2006, together with important economic developments such as dedollarization, marked the beginning of a new macroeconomic framework in Armenia, which is likely to have changed the effectiveness of monetary policy. This paper is the first attempt to analyze whether the transmission mechanism in Armenia has been subject to a structural break by employing a Markov-Switching VAR framework. Results support the existence of such a structural break around the time inflation targeting was introduced and reduced levels of dollarization were observed. Results from introducing a threshold variable into this framework furthermore show that reduced levels of dollarization are an important determinant of the effectiveness of monetary policy.
Book Synopsis Money and the Mechanism of Exchange by : William Stanley Jevons
Download or read book Money and the Mechanism of Exchange written by William Stanley Jevons and published by New York : D. Appleton, c[1875]. This book was released on 1875 with total page 396 pages. Available in PDF, EPUB and Kindle. Book excerpt: Series title also at head of t.p.
Book Synopsis Conditionality in Evolving Monetary Policy Regimes by : International Monetary Fund
Download or read book Conditionality in Evolving Monetary Policy Regimes written by International Monetary Fund and published by International Monetary Fund. This book was released on 2014-05-03 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: With single-digit inflation and substantial financial deepening, developing countries are adopting more flexible and forward-looking monetary policy frameworks and ascribing a greater role to policy interest rates and inflation objectives. While some countries have adopted formal inflation targeting regimes, others have developed frameworks with greater target flexibility to accommodate changing money demand, use of policy rates to signal the monetary policy stance, and implicit inflation targets.
Book Synopsis International Macroeconomics in the Wake of the Global Financial Crisis by : Laurent Ferrara
Download or read book International Macroeconomics in the Wake of the Global Financial Crisis written by Laurent Ferrara and published by Springer. This book was released on 2018-06-13 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book collects selected articles addressing several currently debated issues in the field of international macroeconomics. They focus on the role of the central banks in the debate on how to come to terms with the long-term decline in productivity growth, insufficient aggregate demand, high economic uncertainty and growing inequalities following the global financial crisis. Central banks are of considerable importance in this debate since understanding the sluggishness of the recovery process as well as its implications for the natural interest rate are key to assessing output gaps and the monetary policy stance. The authors argue that a more dynamic domestic and external aggregate demand helps to raise the inflation rate, easing the constraint deriving from the zero lower bound and allowing monetary policy to depart from its current ultra-accommodative position. Beyond macroeconomic factors, the book also discusses a supportive financial environment as a precondition for the rebound of global economic activity, stressing that understanding capital flows is a prerequisite for economic-policy decisions.
Book Synopsis Inflation in Tajikistan by : Svetlana Vtyurina
Download or read book Inflation in Tajikistan written by Svetlana Vtyurina and published by International Monetary Fund. This book was released on 2010-01-01 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper attempts to explain short- and long-term dynamics of-and forecast-inflation in Tajikistan using the Vector Error Correction Model (VECM) and Autoregressive Moving Average Model (ARMA). By analyzing different transmission channels through the VECM, we were able to evaluate their relative dominance, magnitude, and speed of transition to the equilibrium price level, with the view of identifying those policy tools that will enhance the effectiveness of monetary policy. We found that excess supply of broad money is inflationary in both the short and long term. The dynamic analysis also demonstrates that the exchange rate and international inflation have a strong impact on local prices. Available monetary instruments, such as the refinancing rate, have proven to be ineffective. Therefore, the Tajik monetary authority could greatly benefit from enhancing its monetary instruments toolkit, including by developing the interest rate channel, to improve its monetary policy execution and to achieve stable inflationary conditions.
Book Synopsis The Global Findex Database 2017 by : Asli Demirguc-Kunt
Download or read book The Global Findex Database 2017 written by Asli Demirguc-Kunt and published by World Bank Publications. This book was released on 2018-04-19 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 2011 the World Bank—with funding from the Bill and Melinda Gates Foundation—launched the Global Findex database, the world's most comprehensive data set on how adults save, borrow, make payments, and manage risk. Drawing on survey data collected in collaboration with Gallup, Inc., the Global Findex database covers more than 140 economies around the world. The initial survey round was followed by a second one in 2014 and by a third in 2017. Compiled using nationally representative surveys of more than 150,000 adults age 15 and above in over 140 economies, The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution includes updated indicators on access to and use of formal and informal financial services. It has additional data on the use of financial technology (or fintech), including the use of mobile phones and the Internet to conduct financial transactions. The data reveal opportunities to expand access to financial services among people who do not have an account—the unbanked—as well as to promote greater use of digital financial services among those who do have an account. The Global Findex database has become a mainstay of global efforts to promote financial inclusion. In addition to being widely cited by scholars and development practitioners, Global Findex data are used to track progress toward the World Bank goal of Universal Financial Access by 2020 and the United Nations Sustainable Development Goals. The database, the full text of the report, and the underlying country-level data for all figures—along with the questionnaire, the survey methodology, and other relevant materials—are available at www.worldbank.org/globalfindex.
