Series: IMF Working Papers
Author(s): Sonali Jain-Chandra , and Filiz Unsal
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 02 November 2012
Keywords: Monetary policy transmission, dynamic factor model, structural VAR, long-term interest rates, bond yields, Monetary Policy (Targets, Instruments, and Effects), Open Economy Macroeconomics,
The effectiveness of the monetary policy transmission mechanism in open economies could be impaired if interest rates are driven primarily by global factors, especially during periods of large capital inflows. The...