Hidden Bibliographic Details
| Other authors / contributors: | International Monetary Fund. Research Department, issuing body.
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| ISBN: | 9781451997316
1451997310
1462358772
9781462358779
1452733902
9781452733906
128284542X
9781282845428
9786612845420
6612845422
1451962789
9781451962789
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| Notes: | At head of title: Research Department.
"February 2010."
Includes bibliographical references (pages 32-33).
Print version record.
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| Summary: | Applying commonly used vector autoregression (VAR) techniques, this paper investigates the transmission mechanism of monetary policy on output and prices for Mauritius, using data for 1999-2009. The results show that (i) an unexpected monetary policy tightening-an increase in the Bank of Mauritius policy interest rate-leads to a decline in prices and output but the effect on output is weaker; (ii) an unexpected decrease in the money supply or an unexpected increase in the nominal effective exchange rate result in a decrease in prices; and (iii) variations of the policy variables account for small a percentage of the fluctuations in output and prices. Taken together, these results suggest a rather weak monetary policy transmission mechanism. Finally, we find some differences in the transmission mechanism depending on whether core or headline consumer price index is used in the estimations.
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| Other form: | Print version: Tsangarides, Charalambos G. Monetary policy transmission in Mauritius using a VAR analysis. [Washington, D.C.] : International Monetary Fund, ©2010
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