Effectiveness of Monetary Policy Stance to Curtail Inflation in Pakistan During 2001-2009: A Quantitative Measure Analysis

2011 ◽  
Author(s):  
Javed Ali Dars
Keyword(s):  
Monetary Policy ◽  
Quantitative Measure ◽  
Measure Analysis ◽  
Effectiveness Of Monetary Policy

The Effectiveness of Monetary Policy: Recent British Experience

1957 ◽  
Vol 65 (1) ◽  
pp. 18-39 ◽  
Author(s):  
Warren L. Smith ◽  
Raymond F. Mikesell
Keyword(s):  
Monetary Policy ◽  
British Experience ◽  
Effectiveness Of Monetary Policy

scholarly journals The effectiveness of monetary policy in China: Evidence from a Qual VAR

2017 ◽  
Vol 43 ◽  
pp. 216-231 ◽  
Author(s):  
Hongyi Chen ◽  
Kenneth Chow ◽  
Peter Tillmann
Keyword(s):  
Monetary Policy ◽  
Effectiveness Of Monetary Policy

scholarly journals The Dynamics of Bank Spreads and Financial Structure

2014 ◽  
Vol 04 (04) ◽  
pp. 1450014 ◽  
Author(s):  
Reint Gropp ◽  
Christoffer Kok ◽  
Jung-Duk Lichtenberger
Keyword(s):  
Monetary Policy ◽  
Financial Markets ◽  
Interest Rates ◽  
Banking Sector ◽  
Interest Rate Derivatives ◽  
Developed Markets ◽  
Speed Up ◽  
Pass Through ◽  
Bank Spreads ◽  
Effectiveness Of Monetary Policy

This paper investigates the effect of within banking sector competition and competition from financial markets on the dynamics of the transmission from monetary policy rates to retail bank interest rates in the euro area. We use a new dataset that permits analysis for disaggregated bank products. Using a difference-in-difference approach, we test whether development of financial markets and financial innovation speed up the pass through. We find that more developed markets for equity and corporate bonds result in a faster pass-through for those retail bank products directly competing with these markets. More developed markets for securitized assets and for interest rate derivatives also speed up the transmission. Further, we find relatively strong effects of competition within the banking sector across two different measures of competition. Overall, the evidence supports the idea that developed financial markets and competitive banking systems increase the effectiveness of monetary policy.

scholarly journals EFFECTIVENESS OF MONETARY POLICY IN SWEDEN

2015 ◽  
Vol 34 (4) ◽  
pp. 698-709 ◽  
Author(s):  
Richhild Moessner ◽  
Jakob de Haan ◽  
David-Jan Jansen
Keyword(s):  
Monetary Policy ◽  
Effectiveness Of Monetary Policy

scholarly journals Measuring the Effect of the Zero Lower Bound on Medium- and Longer-Term Interest Rates

2014 ◽  
Vol 104 (10) ◽  
pp. 3154-3185 ◽  
Author(s):  
Eric T. Swanson ◽  
John C. Williams
Keyword(s):  
Monetary Policy ◽  
Fiscal Policy ◽  
Lower Bound ◽  
Private Sector ◽  
Interest Rates ◽  
Zero Lower Bound ◽  
Short Term ◽  
Macroeconomic Models ◽  
Monetary And Fiscal Policy ◽  
Effectiveness Of Monetary Policy

According to standard macroeconomic models, the zero lower bound greatly reduces the effectiveness of monetary policy and increases the efficacy of fiscal policy. However, private-sector decisions depend on the entire path of expected future short-term interest rates, not just the current short-term rate. Put differently, longer-term yields matter. We show how to measure the zero bound's effects on yields of any maturity. Indeed, 1- and 2-year Treasury yields were surprisingly unconstrained throughout 2008 to 2010, suggesting that monetary and fiscal policy were about as effective as usual during this period. Only beginning in late 2011 did these yields become more constrained. (JEL E43, E52, E62)

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