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"ABSTRAKThis paper evaluates monetary policy transmission in both tranquil and turbulent periods for Mexico, Indonesia, Nigeria, and Turkey. Using a structural vector autoregressive model, we find that the effect of structural shocks from supply, demand, and financial sources tend to fizzle out faster for Nigeria and Mexico compared to Indonesia and Turkey. Another important finding is that while monetary authorities in Indonesia and Turkey are more responsive to inflation those in Mexico and Nigeria are more influenced by the exchange rate. We also observe differences in the conduct of monetary policy between the tranquil and turbulent periods."

"ABSTRAKThis paper evaluates monetary policy transmission in both tranquil and turbulent periods for Mexico, Indonesia, Nigeria, and Turkey. Using a structural vector autoregressive model, we find that the effect of structural shocks from supply, demand,and financial sources tend to fizzle out faster for Nigeria and Mexico compared toIndonesia and Turkey. Another important finding is that while monetary authorities in Indonesia and Turkey are more responsive to inflation those in Mexico and Nigeria are more influenced by the exchange rate. We also observe differences in the conduct of monetary policy between the tranquil and turbulent periods."

"ABSTRAKThis paper empirically tests the dynamics of credit cards and monetary policy in thecontext of Indonesia. Using monthly data from 2006 to 2018 and a structural vectorautoregressive model, our findings indicate that credit card usage is mainly drivenby Indonesias fast economic growth over the last decade, which indeed reflects therole of credit cards in consumption smoothing. The study also finds that monetarypolicy transmission through the lending channel is weak, with a more prevalent rolefor exchange rates and global oil prices in the transmission process."

"[Studi ini menginvestigasi keberadaan contagion yang menyebar melaluikebijakan moneter US dan pasar equity US ke berbagai pasar keuangan negara berkembang dan negara maju terutama Indonesia di periode 2005 sampai 2014. Hubungan antara US dan negara-negara yg diinvestigasi di studi ini dipertimbangkan, studi ini menggunakan the US Federal Funds Rates sebagai perwakilan kebijakan moneter US, dan menggunakan harga saham Standard and Poor’s 500 sebagai perwakilan pasar equity US, serta menggunakan nilai tukar matauang harian terhadap US. Metode Vector Autoregression (VAR) dapatmengidentifikasi keberadaan contagion dari kebijakan moneter US dan shock di pasar equity US ke berbagai pasar keuangan yaitu Indonesia, Australia, Singapura, Jepang, Eropa dan Inggris. Hasil studi ini menunjukan bahwa contagion menyebar dari pasar equity US ke hampir semua pasar keuangan yang dianalisis di studi ini di antara periode krisis keuangan global tahun 2008 dan 2011. Namun, tidak adacontagion yang signifikan menyebar dari kebijakan moneter US ke pasar-pasar keuangan yang dianalisis.;This study investigates the existence of contagion that transmits from the US monetary policy and the US equity market to a range of emerging and developed financial markets especially to Indonesia, over period 2005 to 2014. The relationship between the US and the investigated countries is considered, taking the US Federal Funds Rates, as the representative of the US monetary policy, and equity prices of Standard and Poor’s 500, as the representative of the US equity market, and using the daily foreign exchange rates against the US dollar for the investigated markets. The Vector Autoregression (VAR) approach has allowed identifying the existence of contagion from the US monetary policy and the US equity market shock to a range of markets, namely, Indonesia, Australia, Singapore, Japan, Europe and the UK. The results show that contagion transmits from the US equity market for most of countries analysed in this study between the Global Financial Crisis in 2008 and2011. There is no significant contagion from the US monetary policy to investigated markets., This study investigates the existence of contagion that transmits from the USmonetary policy and the US equity market to a range of emerging and developedfinancial markets especially to Indonesia, over period 2005 to 2014. The relationshipbetween the US and the investigated countries is considered, taking the US FederalFunds Rates, as the representative of the US monetary policy, and equity prices ofStandard and Poor’s 500, as the representative of the US equity market, and using thedaily foreign exchange rates against the US dollar for the investigated markets. TheVector Autoregression (VAR) approach has allowed identifying the existence ofcontagion from the US monetary policy and the US equity market shock to a rangeof markets, namely, Indonesia, Australia, Singapore, Japan, Europe and the UK. Theresults show that contagion transmits from the US equity market for most ofcountries analysed in this study between the Global Financial Crisis in 2008 and2011. There is no significant contagion from the US monetary policy to investigatedmarkets.]"

"This study estimates the forward-looking monetary policy reaction function for Sri Lanka using monthly data from 1980 to 2017. The results indicate that the Central Bank of Sri Lanka (CBSL) followed the Taylor rule to set interest rates. Our forwardlooking model estimations show that the coefficient on inflation increases over time, reflecting the greater focus on price stability by the bank. The results suggest that the CBSL reacted to nominal exchange rate depreciation by tightening monetary policy. Although the degree of interest rate smoothness gradually decreases over time, the study shows that the CBSL did not react to movements in fiscal deficit during the period under investigation. This finding suggests that the inclusion of fiscal deficit in the Taylor rule does not provide a better specification of the policy reaction function in Sri Lanka."

"Conventional monetary models focus on interest rates and omit monetary aggregates from policy discussions. This paper examines whether augmenting the measure of monetary policy with monetary aggregates helps determine more robust links between policy and economic fluctuations. After constructing the Divisia money index for the UK, I employ structural vector autoregression to identify two different UK monetary policy regimes. Inclusion of this (correct) measure of money and disentangling the money supply from demand resolve the price and liquidity puzzles. The results point to the informational content embedded in monetary aggregates, suggesting they should be taken into account in evaluations of monetary policy."