Now showing items 1-3 of 3
Multiple policy interest rates and economic performance in a multiple monetary-policy-tool environment
This paper assesses the individual effects on economic performance of different monetary policy interest rates for a central bank. To measure these effects, we employ an extension of existing Factor-Augmented Vector ...
Assessing the effects of a policy rate shock on market interest rates: interest rate pass-through with a FAVAR model–the case of Turkey for the inflation-targeting period
The purpose of this paper is to investigate the effectiveness of the central bank’s policy rate on market interest rates in Turkey for the inflation-targeting period. Empirical evidence suggests that (i) all interest ...
Monetary policy under a multiple-tool environment
(Board of Trustees of the Bulletin of Economic Research and John Wiley & Sons Ltd, 2020)
Since the 2008 global financial crisis, central banks have been using a new set of policy tools in addition to conventional tools (such as short‐term interest rates) to conduct monetary policy. This paper employs a methodology ...