Impulse response to monetary policy shocks at the industry level

• Autorzy: Tomasz Chmielewski
• Języki publikacji: EN

Abstrakty

EN

The aim of the paper is to extend the understanding of the monetary transmission mechanism by analysing the impact of central bank policy shocks on the output of the particular divisions of the Polish manufacturing industry. The analysis is carried out in the context of the widely used in literature approach to the . research on the monetary transmission mechanism based on the vector autoregression models (VAR). The additional use of information at a more disaggregated level should enable a better understanding of the monetary transmission mechanism. Such an approach to the analysis of the monetary transmission mechanism can disclose the differences in the reactions of particular sectors of the economy to the decisions of the central bank depending on the balance sheet structure typical to particular sectors of the economy and being a result of the typical structure of financing. This aspect is especially interesting in the light of recent events on the financial markets. (original asbtract)

Słowa kluczowe

EN

Monetary policy; NBP monetary policy; State monetary policy; Industrial policy; Industry; Manufacturing system; Economy; New economy

PL

Polityka pieniężna; Polityka pieniężna NBP; Polityka pieniężna państwa; Polityka przemysłowa; Przemysł; System wytwórczy; Gospodarka; Nowa gospodarka

• Czasopismo: Journal of Management and Financial Sciences
• Rocznik: 2010
• Tom: 3
• Numer: nr 3
• Strony: 132--145

Twórcy

autor

Tomasz Chmielewski

• Szkoła Główna Handlowa w Warszawie

Bibliografia

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