01728cas a2200253 a 4500 AALejournalIMF009720 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451868487 1018-5941 BD-DhAAL BD-DhAAL Al-Mashat, Rania. The Monetary Transmission Mechanism in Egypt / Rania Al-Mashat, Andreas Billmeier. Washington, D.C. : International Monetary Fund, 2007. 1 online resource (43 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 examines the monetary transmission mechanism in Egypt against the background of the central bank's intention to shift to inflation targeting. It first describes the changing transmission channels over the last decade. Second, the channels are evaluated in a VAR model. The exchange rate channel plays a strong role in propagating monetary shocks to output and prices. Most other channels (bank lending, asset price) are rather weak. The interest rate channel is underdeveloped but appears to be strengthening since the introduction of the interest corridor in 2005, which bodes well for adopting inflation targeting over the medium term. Mode of access: Internet Billmeier, Andreas. IMF Working Papers; Working Paper ; No. 2007/285 Full text available on IMF http://elibrary.imf.org/view/journals/001/2007/285/001.2007.issue-285-en.xml IMF e-Library