Analisis Sektor Pertambangan Dan Penggalian Melalui Jalur Kredit Dalam Mekanisme Transmisi Di Indonesia (Tahun 2002-2012)

2016 ◽  
Vol 1 (01) ◽  
pp. 68-75
Author(s):  
Regina Mayo
Keyword(s):  
High Technology ◽  
Transmission Mechanism ◽  
Monetary Transmission ◽  
Credit Channel ◽  
Estimation Technique ◽  
Working Capital ◽  
Monetary Transmission Mechanism ◽  
The Stability

This research analyzes the effectiveness of the credit channel in the monetary transmission mechanism in Indonesia with sectoral study. It is expected by using these credit channel, can indicate which sector contributes greatly to inflation and then handling the sector so there is not give a contribute significantly to inflation like the main purpose in the UU No. 3, 2004, 7 can be achieved, the stability of the rupiah, as reflected in low inflation and stable. The VECM estimation technique with research periods 2002-2012 covering  variables BI  rate, credit rates of  investment, credit  rates  of  working  capital,  sectoral  investment  credit sectoral working capital credit, sectoral of GDP and inflation. The result shows: sectoral working capital credit of mining and quarrying which effectively explains inflation, it is because this sector is capital solid with advanced equipment and high technology, it takes a lot of fund.

Asymmetric Information and the Transmission Mechanism of Monetary Policy

2007 ◽  
Vol 8 (3) ◽  
pp. 428-446 ◽  
Author(s):  
Ulrike Neyer
Keyword(s):  
Monetary Policy ◽  
Interest Rate ◽  
Asymmetric Information ◽  
Credit Markets ◽  
Transmission Mechanism ◽  
Monetary Transmission ◽  
Credit Channel ◽  
Absolute Value ◽  
Monetary Transmission Mechanism ◽  
External Finance

Abstract This paper analyses the consequences of asymmetric information in credit markets for the monetary transmission mechanism. It shows that asymmetric information can not only reinforce but can also weaken or overcompensate the effects of the standard interest rate channel. Crucial is that informational problems lead to an external finance premium that can be positive or negative for marginal entrepreneurs. Tight money may lead to an increase in the absolute value of this premium, implying that there is a credit channel of monetary policy, but its working direction is ambiguous.

scholarly journals Symposium on the Monetary Transmission Mechanism

1995 ◽  
Vol 9 (4) ◽  
pp. 3-10 ◽  
Author(s):  
Frederic S Mishkin
Keyword(s):  
Exchange Rate ◽  
Asset Price ◽  
Transmission Mechanism ◽  
Monetary Transmission ◽  
Credit Channel ◽  
Monetary Transmission Mechanism ◽  
Transmission Mechanisms ◽  
Price Effects ◽  
Rate Effects ◽  
Monetary Transmission Mechanisms

Understanding of monetary transmission mechanisms is crucial to answering a broad range of questions. These transmission mechanisms include interest-rate effects, exchange-rate effects, other asset price effects, and the so-called credit channel. This introduction to the symposium provides an overview of the main types of monetary transmission mechanisms found in the literature and a perspective on how the papers in the symposium relate to the overall literature and to each other.

The Stability Properties of Monetary Constitutions

2016 ◽  
Vol 22 (2) ◽  
Author(s):  
Pablo Paniagua
Keyword(s):  
Monetary Policy ◽  
Financial Crisis ◽  
Transmission Mechanism ◽  
Monetary Transmission ◽  
Integral Property ◽  
Stability Properties ◽  
Monetary Transmission Mechanism ◽  
Monetary Neutrality ◽  
The Stability ◽  
Monetary Rules

AbstractThe financial crisis brought about a higher degree of monetary policy unpredictability. To anchor expectations and promote nominal stability, there is a need for predictable monetary rules or stable constitutions. This paper’s purpose is to define the general expectational properties that monetary constitutions should possess to work as coordination devices. I use Buchanan’s predictability criterion, as well as the expectational monetary transmission mechanism, to propose that monetary constitutions should be considered stable as long as they contain dynamics allowing self-reinforcing expectations of monetary neutrality. Self-reinforcement of expectations is an integral property of monetary constitutions for them to be agents of coordination and therefore stable. I find that these expectational properties are consistent with the stability properties established in the constitutional literature.

scholarly journals ROLE OF THE CREDIT CHANNEL IN THE MECHANISM OF MONETARY TRANSMISSION IN UKRAINE

2021 ◽  
Author(s):  
Svitlana Mishchenko ◽  
◽  
Volodymyr Mishchenko ◽  
Keyword(s):  
Economic Growth ◽  
Growth Rate ◽  
Central Bank ◽  
Transmission Mechanism ◽  
Monetary Transmission ◽  
Main Task ◽  
Credit Channel ◽  
The Real ◽  
Monetary Transmission Mechanism ◽  
Credit Risks

The article provides a comprehensive analysis of the functioning of the credit channel of the monetary transmission mechanism in Ukraine in 2005–2020, defines its role, the main tasks and features of its use in the system of modern monetary regulation of the economy. It has been substantiated that the main task of managing the credit channel of the transmission mechanism is to increase the efficiency of monetary regulation by transferring monetary impulses from the central bank to the real sector of the economy in order to ensure economic growth. Criteria are determined, basic indicators are proposed and methods for assessing the effectiveness of the functioning of the credit channel of monetary transmission are improved. As a result of calculations, it was proved that in 2005–2020 in Ukraine, the credit channel of the monetary transmission mechanism had a positive effect on the growth rate of the monetary aggregate M3 and the growth rate of the real gross domestic product, while the increase in government bond yields and the share of non-performing loans had a negative impact on lending activity and the rate of lending to the economy. The main reasons for the low efficiency of using the credit channel were the deterioration of the financial condition of enterprises and households, a decrease in their creditworthiness, low demand for investment resources, a high proportion of non-performing loans, significant volumes of government bonds issued by the government and high credit risks, which made it difficult for the central bank to adopt effective decisions and constrained economic growth. The main directions of improving the management and increasing the efficiency of the functioning of the credit channel of monetary transmission in Ukraine on the basis of improving the credit and investment climate, improving the methodology for assessing credit risks, increasing the efficiency of monetary regulation and the implementation by the central bank of a monetary policy adequate to economic conditions have been identified. The forecast parameters and conditions for the effective functioning of the credit channel of the monetary transmission mechanism in Ukraine in the medium and long term are proposed.

scholarly journals How does the monetary transmission mechanism work? Evidence from Turkey

2020 ◽  
Vol 20 (4) ◽  
pp. 375-382
Author(s):  
Ufuk Can ◽  
Mehmet Emin Bocuoglu ◽  
Zeynep Gizem Can
Keyword(s):  
Transmission Mechanism ◽  
Monetary Transmission ◽  
Monetary Transmission Mechanism
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