Monetary policy transmission in Mauritius using a VAR analysis /

Monetary policy transmission in Mauritius using a VAR analysis /

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Bibliographic Details
Author / Creator:	Tsangarides, Charalambos G., author.
Imprint:	[Washington D.C.] : International Monetary Fund, 2010.
Description:	1 online resource (33 pages) : color illustrations
Language:	English
Series:	IMF working paper ; WP/10/36 IMF working paper ; WP/10/36.
Subject:	Monetary policy -- Mauritius -- Econometric models. Transmission mechanism (Monetary policy) -- Mauritius -- Econometric models. Monetary policy -- Econometric models. Mauritius. Electronic books.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/12498387

Hidden Bibliographic Details
Other authors / contributors:	International Monetary Fund. Research Department, issuing body.
ISBN:	9781451997316 1451997310 1462358772 9781462358779 1452733902 9781452733906 128284542X 9781282845428 9786612845420 6612845422 1451962789 9781451962789
Notes:	At head of title: Research Department. "February 2010." Includes bibliographical references (pages 32-33). Print version record.
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.
Other form:	Print version: Tsangarides, Charalambos G. Monetary policy transmission in Mauritius using a VAR analysis. [Washington, D.C.] : International Monetary Fund, ©2010

Description
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.
Item Description:	At head of title: Research Department. "February 2010."
Physical Description:	1 online resource (33 pages) : color illustrations
Bibliography:	Includes bibliographical references (pages 32-33).
ISBN:	9781451997316 1451997310 1462358772 9781462358779 1452733902 9781452733906 128284542X 9781282845428 9786612845420 6612845422 1451962789 9781451962789