01951cas a2200265 a 4500 AALejournalIMF013359 230101c9999 xx r poo 0 0eng d 5.00 USD 9781475530575 1018-5941 BD-DhAAL BD-DhAAL Davoodi, Hamid. Monetary Transmission Mechanism in the East African Community : An Empirical Investigation / Hamid Davoodi, S. V. S. Dixit, Gabor Pinter. Washington, D.C. : International Monetary Fund, 2013. 1 online resource (59 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 Do changes in monetary policy affect inflation and output in the East African Community (EAC)? We find that (i) Monetary Transmission Mechanism (MTM) tends to be generally weak when using standard statistical inferences, but somewhat strong when using non-standard inference methods; (ii) when MTM is present, the precise transmission channels and their importance differ across countries; and (iii) reserve money and the policy rate, two frequently used instruments of monetary policy, sometimes move in directions that exert offsetting expansionary and contractionary effects on inflation-posing challenges to harmonization of monetary policies across the EAC and transition to a future East African Monetary Union. The paper offers some suggestions for strengthening the MTM in the EAC. Mode of access: Internet Dixit, S. V. S. Pinter, Gabor. IMF Working Papers; Working Paper ; No. 2013/039 Full text available on IMF http://elibrary.imf.org/view/journals/001/2013/039/001.2013.issue-039-en.xml IMF e-Library