Monetary transmission: what do we know and how can we use it?
DOI:
https://doi.org/10.13133/2037-3643/10594Keywords:
Monetary transmission, Monetary policy, Currency devaluationAbstract
The existence of a considerable and varying time lag between the actions by the central bank in adjusting its policy instruments and the effects on the respective target variable is widely acknowledged. As a result, the monetary policy maker needs to take a forward-looking approach in decision-making. A survey is undertaken of the possible channels of monetary transmission, and the problems faced by the imperfect knowledge of the policy maker about the transmission mechanism.
JEL Codes: E02, E52
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