Monetary Policy Implementation and Volatility Transmission along the Yield Curve ePub (Adobe DRM) download by Emre Mr. Alper

Monetary Policy Implementation and Volatility Transmission along the Yield Curve

INTERNATIONAL MONETARY FUND
Publication date: September 2016
ISBN: 9781475535372
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This paper analyzes the degree to which volatility in interbank interest rates leads to volatility in financial instruments with longer maturities (e.g., T-bills) in Kenya since 2012, year in which the monetary policy framework switched to a forward-looking approach, relative to seven other inflation targeting (IT) countries (Ghana, Hungary, Poland, South Africa, Sweden, Thailand, and Uganda). Kenya shows strong volatility transmission and high persistence similar to other countries in transition to a more forward-looking monetary policy framework. These results emphasize the importance of a strong commitment to an interbank rate as an operational target and suggest that the central bank could reduce uncertainty in short-term yields significantly by smoothing out the overnight interest rates around the policy rate.
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Monetary Policy Implementation and Volatility Transmission along the Yield Curve ePub (Adobe DRM) download by Emre Mr. Alper
INTERNATIONAL MONETARY FUND, September 2016
ISBN: 9781475535372
EAN:  9781475535372
ePub (Adobe DRM)
List Price: $9.00 eBook price: $6.99
Monetary Policy Implementation and Volatility Transmission along the Yield Curve PDF (Adobe DRM) download by Emre Mr. Alper
INTERNATIONAL MONETARY FUND, September 2016
ISBN: 9781475540857
EAN:  9781475540857
PDF (Adobe DRM)
List Price: $9.00 eBook price: $6.99
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