Unraveling the monetary policy transmission mechanism in Sri Lanka (Record no. 75399)

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fixed length control field 02164nam a22002657a 4500
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control field ipslib
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fixed length control field 141204t xxu||||| |||| 00| 0 eng d
041 ## - LANGUAGE CODE
Language code of text/sound track or separate title English Language
100 ## - MAIN ENTRY--PERSONAL NAME
Personal name Ghazanchya,n Manuk
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245 ## - TITLE STATEMENT
Title Unraveling the monetary policy transmission mechanism in Sri Lanka
260 ## - PUBLICATION, DISTRIBUTION, ETC. (IMPRINT)
Place of publication, distribution, etc Washington
Name of publisher, distributor, etc International Monetary Fund
Date of publication, distribution, etc 2014
300 ## - PHYSICAL DESCRIPTION
Extent 41p.
440 ## - SERIES STATEMENT/ADDED ENTRY--TITLE
Title IMF Working Paper
Number of part/section of a work 14/190
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520 ## - SUMMARY, ETC.
Summary, etc This paper examines the channels through which innovations to policy variables— policy rates or monetary aggregates—affect such macroeconomic variables as output and inflation in Sri Lanka. The effectiveness of monetary policy instruments is judged through the prism of conventional policy channels (money/interest rate, bank lending, exchange rate and asset price channels) in VAR models. The timing and magnitude of these effects are assessed using impulse response functions, and through the pass-through coefficients from policy to money market and lending rates. Our results show that (i) the interest rate channel (money view) has the strongest Granger effect (helps predict) on output with a 0.6 percent decrease in output after the second quarter and a cumulative 0.5 percent decline within a three-year period in response to innovations in the policy rate; (ii) the contribution from the bank lending channel is statistically significant (adding 0.2 percentage point to the baseline effect of policy rates) in affecting both output and prices but with a lag of about five quarters for output and longer for prices; and (iii) the exchange rate and asset price channels are ineffective and do not have Granger effects on either output or prices.
650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM
Topical term or geographic name as entry element Monetary policy
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Topical term or geographic name as entry element Econometric models,
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Topical term or geographic name as entry element Central Bank Policies
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Topical term or geographic name as entry element Financial Markets
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Topical term or geographic name as entry element Money market
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Topical term or geographic name as entry element Sri Lanka
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655 ## - INDEX TERM--GENRE/FORM
Genre/form data or focus term Finance
856 ## - ELECTRONIC LOCATION AND ACCESS
Uniform Resource Identifier https://www.imf.org/external/pubs/ft/scr/2014/cr14286.pdf
942 ## - ADDED ENTRY ELEMENTS (KOHA)
Source of classification or shelving scheme
Koha item type Electronic Media
Holdings
Withdrawn status Lost status Damaged status Not for loan Collection code Permanent Location Current Location Shelving location Date acquired Barcode Date last seen Uniform Resource Identifier Price effective from Koha item type
        Health Library Library Electronic 2014-12-04 CD 1661 2014-12-04 ftp://ftp.ips.lk/ebooks/IMF/UnravelingtheMonetary.pdf 2014-12-04 Electronic Media