2009. Chuku A. Chuku MEASURING THE EFFECTS OF MONETARY POLICY INNOVATIONS IN NIGERIA: A STRUCTURAL VECTOR AUTOREGRESSIVE (SVAR) APPROACH Chuku A. Chuku1 University of Uyo‚ Nigeria. chukuachuku@gmail.com ABSTARCT Correctly identifying the effects of monetary policy innovations is necessary for good policy making. In this paper‚ we carry out a controlled experiment using a structural vector autoregression (SVAR) model to trace the effects of monetary policy shocks on output and prices in Nigeria
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State Bank of Pakistan Monetary Policy Department - Internship Project “Central Bank’s Independence and Implementation of Monetary Policy” By Raza Ali - SZABIST‚ Karachi & Farhan Ahmed - SZABIST‚ Larkana August- 2012 Internship Report CERTIFICATE It is to certify that this report submitted by Mr. Raza Ali and Mr. Farhan Ahmed is accepted in its present form by the Monetary Policy Department‚ State bank of Pakistan Karachi‚ as satisfying for the requirement for partial fulfillments
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investment and expansion. Monetary policy through its influence on the financial sector of the economy plays a major role in making credit available to the agricultural sector. Monetary policy refers to the combination of measures designed to regulate the value‚ supply and cost of money in an economy. It can be described as the art of controlling the direction and movement of credit facilities in pursuance of stable price and economy growth in an economy (CBN‚ 1992). Monetary policy in the Nigerian
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Identity (1989)‚ and International Monetary Cooperation Since Bretton Woods (1996). He is also a coauthor of The Deutsche Bank 1870–1995 (1995). PETER B. KENEN‚ Director International Finance Section INTERNATIONAL FINANCE SECTION EDITORIAL STAFF Peter B. Kenen‚ Director Margaret B. Riccardi‚ Editor Lillian Spais‚ Editorial Aide Lalitha H. Chandra‚ Subscriptions and Orders Library of Congress Cataloging-in-Publication Data James‚ Harold. Monetary and fiscal unification in nineteenth-century
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U.S. Monetary Policy and What the Federal Reserve does. According to the Congressional Budget Office monetary policy is‚ "The strategy of influencing movements of the money supply and interest rates to affect output and inflation. An "easy" monetary policy suggests faster growth of the money supply and initially lower short-term interest rates in an attempt to increase aggregate demand‚ but it may lead to a higher rate of inflation. A "tight" monetary policy suggests slower growth of the money
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The Central Bank of Nigeria (CBN) takes a number of monetary policy decisions‚ including a change in the level of money supply (M2)‚ the Minimum Rediscount Rate (MRR)‚ or a change in the exchange rate. The central bank defines money supply in two ways: narrow and broad money. Narrow money (M1) is defined to include currency in circulation plus current account deposits with commercial banks. Broad money measures the total volume of money supply in the economy and is defined as narrow money plus savings
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The Monetary Policies of the Asian Financial Crisis and its Ramifications Introduction: At the end of the 1980s and early 1990s‚ the economies of Southeast Asia developed rapidly. Thailand‚ Malaysia‚ Indonesia‚ Singapore and Korea experienced an average annual GDP growth of 12%‚ which was called “the Asian miracle”. Among them‚ Thailand experienced approximately 15% GDP growth‚ and Malaysia experienced almost 20% GDP growth. But this momentum of economic growth did not last long. This rapid development
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CONTENTS INTRODUCTION:ECONOMIC ENVIRONMENT OF BUSINESS Economic Environment refers to all those economic factors‚ which have a bearing on the functioning of a business. Business depends on the economic environment for all the needed inputs. It also depends on the economic environment to sell the finished goods. Naturally‚ the dependence of business on the economic environment is total and is not surprising because‚ as it is rightly said‚ business is one unit of the total economy. Economic
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the PBOC’s Concretionary Monetary Policy 03 – 20 - 2011 As part of the China’s Monetary Policy team‚ most contributions were made on a shared basis with Ms. Fion Lau focusing on current policy implemented and tools used by the People’s Bank of China (PBOC) Benefited by Fion’s financial industry experience and access to various source including Bloomberg terminal‚ the data obtained is well collected and analyzed. Similar to that of the Federal Reserve‚ China’s monetary policy are designed and
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Monetary policy and its effect on macroeconomic factors Michele Fludd MMPBL/501 April 11‚ 2011 Caryn Callahan‚ Ph.D. Monetary policy and its effect on macroeconomic factors The extremely large number of money exchanges that occurs each day all over the world form a highly complex web that is very resistant to analysis. However‚ it must be understood that the basis rules of money creation that govern these exchanges are readily understood and very simple. How money works is a little complex
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