The effect of monetary policy on long-term interest rates has been a question of interest in
recent years. A number of papers, relying on single-equation estimation techniques, have …

The science of economics has some constraints and tensions that set it apart from other
sciences. One reflection of these constraints and tensions is that, more than in most other …

On the basis of SVAR models of monetary policy in Egypt for the period December 1976–
May 2006, our paper explores a new empirical assessment for the interest rate channel in …

Method We use a class of models called identified vector autoregressions (VARs) that has
only recently begun to be widely used. Nonetheless, much of the previous empirical …

This paper examines to what extent the central bank for the West African Economic and
Monetary Union (BCEAO) has used interest rate policy in response to domestic economic …

In recent years, central banks in emerging market and transition economies (EMCs) have
devoted considerable resources to developing macroeconometric models of the …

Our purpose is to investigate how the European Central Bank (ECB) sets interest rates in the
context of both linear and nonlinear policy reaction functions. This work contributes to the …

The widespread adoption of inflation targeting (IT) from the early 1990s led to investigations
of its effect on macroeconomic performance (inflation and growth), with the emergence of a …

This paper examines the transmission of monetary policy shocks through private sector
balance sheets in the United States over the past three decades. Using a Factor-Augmented …

Over the last 25 years, a set of influential studies has placed interest rates at the heart of
analyses that interpret and evaluate monetary policies. In light of this work, the Federal …