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150128 ||| eng |
| 020 |
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|a 9781451974751
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| 100 |
1 |
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|a Levy, Joaquim
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| 245 |
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0 |
|a Aspects of the Monetary Transmission Mechanism Under Exchange Rate Targeting
|b The Case of France
|c Joaquim Levy, Ioannis Halikias
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| 260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 1997
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| 300 |
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|a 38 pages
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| 651 |
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4 |
|a France
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| 653 |
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|a Interest rates
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| 653 |
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|a Credit
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| 653 |
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|a International Monetary Arrangements and Institutions
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| 653 |
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|a Finance
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| 653 |
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|a Econometric analysis
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| 653 |
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|a Dynamic Treatment Effect Models
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| 653 |
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|a Monetary economics
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| 653 |
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|a Financial services
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| 653 |
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|a Short term interest rates
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| 653 |
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|a Monetary Policy, Central Banking, and the Supply of Money and Credit: General
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| 653 |
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|a Currency
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| 653 |
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|a Diffusion Processes
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| 653 |
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|a Vector autoregression
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| 653 |
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|a Money
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| 653 |
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|a Time-Series Models
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| 653 |
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|a Foreign Exchange
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| 653 |
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|a International Finance: General
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| 653 |
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|a Banks and Banking
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| 653 |
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|a Monetary policy
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| 653 |
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|a Interest Rates: Determination, Term Structure, and Effects
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| 653 |
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|a Econometrics
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| 653 |
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|a Dynamic Quantile Regressions
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| 653 |
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|a Exchange rates
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| 653 |
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|a Econometrics & economic statistics
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| 653 |
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|a Monetary Policy
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| 653 |
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|a Money and Monetary Policy
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| 653 |
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|a Foreign exchange
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| 653 |
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|a Monetary transmission mechanism
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| 700 |
1 |
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|a Halikias, Ioannis
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| 041 |
0 |
7 |
|a eng
|2 ISO 639-2
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| 989 |
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|b IMF
|a International Monetary Fund
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| 490 |
0 |
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|a IMF Working Papers
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| 028 |
5 |
0 |
|a 10.5089/9781451974751.001
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| 856 |
4 |
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|u https://elibrary.imf.org/view/journals/001/1997/044/001.1997.issue-044-en.xml?cid=2166-com-dsp-marc
|x Verlag
|3 Volltext
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| 082 |
0 |
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|a 330
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| 520 |
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|a This paper examines monetary transmission in France using the vector autoregression methodology. Interest rates are decomposed into external and domestic components, and a nonrecursive contemporaneous structure is used to identify the system. Innovations in the external component are found to have a significant impact on economic activity, while innovations in the domestic premium have a statistically negligible effect, suggesting that interest rate hikes in defense of the franc may have had a smaller impact on the economy than usually thought. The paper also discusses some implications of Economic and Monetary Union and provides evidence concerning the importance of the credit channel in France
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