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Monetary transmission in low-income countries : an overview

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  • Montiel, Peter J.

Abstract

The paper starts with the premise that, throughout the world, monetary policy has come to bear primary responsibility for short-run macroeconomic stabilization. In order to perform this function, however, monetary policy must have the capacity to exert a reliable influence on aggregate demand. This is known as the monetary policy transmission mechanism.

Suggested Citation

  • Montiel, Peter J., 2015. "Monetary transmission in low-income countries : an overview," ILO Working Papers 994881153402676, International Labour Organization.
    • Handle: RePEc:ilo:ilowps:994881153402676
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    File URL: http://www.ilo.org/public/libdoc/ilo/2015/115B09_91_engl.pdf
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