Arbeitspapier
Monetary transmission mechanism in transition economies: Surveying the surveyable
This paper surveys recent advances in the monetary transmission mechanism (MTM). In particular, while laying out the functioning of the separate channels in the MTM, special attention is paid to exploring possible interrelations between different channels through which they may amplify or attenuate each others’ impact on prices and the real economy. We take stock of the empirical findings especially as they relate to countries in Central and Eastern Europe, and compare them to results reported for industrialised countries, especially for the euro area. We highlight potential pitfalls in the literature and assess the relative importance and potential development of the different channels.
- Language
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Englisch
- Bibliographic citation
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Series: MNB Working Papers ; No. 2006/5
- Classification
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Wirtschaft
Price Level; Inflation; Deflation
Money Supply; Credit; Money Multipliers
Central Banks and Their Policies
Foreign Exchange
Macroeconomic Analyses of Economic Development
Socialist Systems and Transitional Economies: General
- Subject
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monetary transmission
transition
Central and Eastern Europe
credit channel
interest rate channel
interestrate pass-through
exchange rate channel
exchange rate pass-through
asset price channel
Geldpolitische Transmission
Geldpolitische Transmission
Exchange Rate Pass-Through
Geldpolitik
Systemtransformation
Osteuropa
- Event
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Geistige Schöpfung
- (who)
-
MacDonald, Ronald
Égert, Balázs
- Event
-
Veröffentlichung
- (who)
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Magyar Nemzeti Bank
- (where)
-
Budapest
- (when)
-
2006
- Handle
- Last update
-
10.03.2025, 11:44 AM CET
Data provider
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Object type
- Arbeitspapier
Associated
- MacDonald, Ronald
- Égert, Balázs
- Magyar Nemzeti Bank
Time of origin
- 2006