Monetary policy transmission in EMs has been found to be weak historically due to under-developed financial markets and heavy central bank intervention in FX markets that undermine the exchange rate ...
E-money development has important yet theoretically ambiguous consequences for monetary policy transmission, because nonbank deposit-taking e-money issuers (EMIs) (e.g., mobile network operators) can ...
Over the years the responsibility of stabilization policy have increasingly been place on the shoulders of central banks. However, for central banks to deliver on this mandate their monetary policy ...
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