Browsing by Author "Mapa, Ilona"
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Item Restricted Monetary policy shocks: the effects of instruments to real variables(2004-03) Ardaniel, Zemma; Mapa, IlonaThe Central Bank was created to oversee and control the money supply in the economy for the purpose of stabilizing prices and inducing growth. To pursue this objective it uses different monetary tools and instruments. This paper traces the effects of monetary policy shocks in repurchase rate (RP), reverse repurchase rate (RRP) and non-borrowed reserve to real variables. It also examines the magnitude and effectivity of these policy tools. We therefore, look at the changes in prices, gdp and total reserve upon the implementation of monetary policy, through the impulse response function. At the end, we gave a conclusion regarding the effectiveness of Central Bank's policy in pursuing its objectives.