We apply a discrete choice approach to model the empirical behaviour of the Federal
Reserve in changing the federal funds target rate, the benchmark of short‐term market …

This paper aims to investigate the interaction between monetary and fiscal policies in
Turkey. For this purpose, a Bayesian Structural Vector Autoregression (SVAR) model with …

Using a policy-oriented multivariate VECM approach and monthly data over the period of
unconventional monetary policy, this paper presents the first evidence of both long-run and …

A coherent method to measure the effectiveness of a monetary policy improves the monetary
authority's management capacity and renders the possibility of applying sound policies prior …

This paper analyzes the monetary policy of the European Central Bank (ECB) both before
and after the outbreak of the global financial crisis in 2008. In the literature, researchers …

This paper addresses one of the central aspects of the transmission mechanism of monetary
policy, namely the ability of central banks to affect the structure of interest rates. To shed light …

This paper conducts an empirical study on the interest rate behavior of monetary authorities
in China and the United States. First, by using a multiple-threshold model, we find that …

This paper models the PBC's operating procedures in a two-stage vector autoregression
framework. We decompose changes in policy variables into exogenous and endogenous …

This paper provides time-series and panel evidence on the monetary policy transmission for
five key emerging market economies: Brazil, Russia, India, China and South Africa (BRICS) …

Purpose–Previous literature for the relations between the market interest rates and the
targeted or target rate of the Federal Reserve paid little attention to Eurodollar market rates …