scholarly journals Financial frictions and the monetary transmission mechanism: theory, evidence and policy implications

2003 ◽  
pp. 107-130 ◽  
Author(s):  
C. Bean ◽  
J. Larsen ◽  
K. Nikolov
Keyword(s):  
Financial Frictions ◽  
Transmission Mechanism ◽  
Policy Implications ◽  
Monetary Transmission ◽  
Monetary Transmission Mechanism ◽  
Mechanism Theory

A NOTE ON THE POLICY IMPLICATIONS OF USING DIVISIA CONSUMPTION AND MONETARY AGGREGATES

2007 ◽  
Vol 12 (1) ◽  
pp. 132-149 ◽  
Author(s):  
LEIGH DRAKE ◽  
ADRIAN R. FLEISSIG
Keyword(s):  
Monetary Policy ◽  
Durable Goods ◽  
Transmission Mechanism ◽  
Policy Implications ◽  
Monetary Transmission ◽  
Monetary Aggregates ◽  
Monetary Transmission Mechanism ◽  
Consumption Goods ◽  
Monetary Assets ◽  
Insight Into

Using U.K. data that are consistent with utility maximizing behavior by consumers, we construct aggregates for both consumption goods (nondurables and services) and monetary assets that are consistent with economic aggregation theory. Using these aggregates and the stock of durable goods, we estimate the elasticities of substitution between various consumption goods and monetary assets. These estimates are compared to the corresponding results from conventional monetary and consumption aggregates. The results give important information for monetary policy and the monetary transmission mechanism. In particular, these substitution estimates provide insight into the recent changes in expenditure on durable goods. We also show that the use of conventional U.K. consumption and monetary aggregates often give incorrect estimates of substitution and can provide misleading policy insights.

scholarly journals How does the monetary transmission mechanism work? Evidence from Turkey

2020 ◽  
Vol 20 (4) ◽  
pp. 375-382
Author(s):  
Ufuk Can ◽  
Mehmet Emin Bocuoglu ◽  
Zeynep Gizem Can
Keyword(s):  
Transmission Mechanism ◽  
Monetary Transmission ◽  
Monetary Transmission Mechanism

scholarly journals Panel Data Analysis of Monetary Transmission Mechanism for European Union Countries

2017 ◽  
Vol 4 (2) ◽  
pp. 42
Author(s):  
Dina Cakmur Yildirtan ◽  
Selin Sarili
Keyword(s):  
European Union ◽  
Interest Rates ◽  
Debt Crisis ◽  
Panel Data Analysis ◽  
Aggregate Demand ◽  
Transmission Mechanism ◽  
Monetary Transmission ◽  
Response Analysis ◽  
Data Set ◽  
Monetary Transmission Mechanism

Monetary transmission mechanism is the mechanism which shows  in what ways and what extent interaction between the real economy-monetary policy, impacts aggregate demand and production. While transmission channels or mechanisms traditionally classified they divided into three categories; interest rates, Exchange rates and other asset prices.In this study to test the existence of the European debt crisis by the monetary transmission mechanism, 15 members of European Union country by using annual (2002-2014) data set were included into study. We use panel unit root tests to analyze whether the variables in the model are stationary or not. For the countries included in the study, panel causality tests developed by Granger is applied. Panel Vector Autoregressive Model has been estimated and results of Impulse-Response Analysis and Variance Decomposition have been interpreted.

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