The Effectiveness of Monetary Policy Transmission Under Capital Inflows: Evidence from Asia


The effectiveness of the monetary policy transmission mechanism in open economies could be impaired if interest rates are driven primarily by global factors, especially during periods of large capital inflows. The main objective of this paper is to assess whether this is true for emerging Asia's economies. Using a dynamic factor model and a... READ MORE...

Publication date: November 2012
ISBN 9781475525823

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Publication date: November 2012