01699cas a2200241 a 4500 AALejournalIMF007511 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451943504 1018-5941 BD-DhAAL BD-DhAAL De Fiore, Fiorella. The Transmission of Monetary Policy in Israel / Fiorella De Fiore. Washington, D.C. : International Monetary Fund, 1998. 1 online resource (45 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper investigates the transmission of Israeli monetary policy since 1990. Two issues are addressed: the extent to which monetary policy exerts real effects, and the relative importance of different transmission channels. The impact of monetary restraints on aggregate industrial production is found to be small, although industrial sectors open to trade appear to suffer to a larger extent than closed sectors. Three transmission channels are analyzed by comparing the empirical evidence to that predicted by theory. While the credit and exchange rate channels may be important mechanisms of transmission, the interest rate channel finds weak support in the data. Mode of access: Internet IMF Working Papers; Working Paper ; No. 1998/114 Full text available on IMF http://elibrary.imf.org/view/journals/001/1998/114/001.1998.issue-114-en.xml IMF e-Library