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Covid-19 uncertainty and monetary policy responses : evidence from emerging market economies

This paper examines the effectiveness of monetary policy transmission in emerging economies during the COVID-19 pandemic. Using data from 14 emerging economies severely affected by the pandemic and the autoregressive distributed lag approach to cointegration, the study examines the effectiveness of monetary policy in affectin output, inflation, and credit. The study finds that: (1) in most economies, the monetary policy transmission to inflation is weakened due to the uncertainty created by the COVID-19 pandemic; (2) in a few economies, the transmission is found to be effectiv in stabilizing credit and output; and (3) the outbreak of the COVID-19 pandemic induced economic agents to follow a ?cautionary? or ?wait-and-see? approach..

Ketersediaan

Call NumberLocationAvailable
PSB lt.2 - Karya Akhir1
Penerbit Bulletin of Monetary Economics and Banking.,
Edisi -
Subjek Monetary policy
Uncertainty
Pandemic
Covid
19
Emerging Economies
Policy effectiveness
ISBN/ISSN -
Klasifikasi -
Deskripsi Fisik -
Info Detail Spesifik -
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