African Journal of
Business Management

  • Abbreviation: Afr. J. Bus. Manage.
  • Language: English
  • ISSN: 1993-8233
  • DOI: 10.5897/AJBM
  • Start Year: 2007
  • Published Articles: 4193

Full Length Research Paper

Monetary policy in Cape Verde and macroeconomic changes: Empirical evidences

Jailson da Conceicao Teixeira de Oliveira
  • Jailson da Conceicao Teixeira de Oliveira
  • PPGE/UFPB, Brazil.
  • Google Scholar
Bruno Ferreira Frascaroli
  • Bruno Ferreira Frascaroli
  • Federal University of Paraiba ? PPGE/UFPB, Brazil.
  • Google Scholar
Osvaldo Candido da Silva Filho
  • Osvaldo Candido da Silva Filho
  • Catholic University of Brasília (UCB), Brazil.
  • Google Scholar


  •  Received: 02 May 2014
  •  Accepted: 04 February 2015
  •  Published: 14 February 2015

References

Al-Mashat R, Billmeier A (2007). The Monetary Transmission Mechanism in Egypt. IMF, Working paper.
Crossref

 

Barth III MJ, Ramey VA (2001). The cost channel of monetary transmission. National Bureau of Economic Research. Working Paper. 7675.

 

Bernanke B, Blinder A (1992). The Federal Funds rate and the channels of monetary transmission. Am. Econ. Rev. 82:901-921.

 

Bernanke B, Gertler M (1995). Inside the black box: the credit channel of monetary policy transmission. J. Econ. Perspectives. 9(4):27-48.
Crossref

 

Box G, Jenkins G (1976). Time series analysis: forecasting and control. Rev. ed., Oakland, California: Holden-Day.

 

Calvo GA (1982). Staggered contracts and exchange rate policy. J. A. Frenkel. ed. Exchange rates and international macroeconomics, University of Chicago Press for the National Bureau of Economic Research, Chicago, IL.

 

Calvo GA (1983). Staggered prices in a utility-maximizing framework. J. Monetary Econ. 12:383-398.
Crossref

 

Chow GC (1960). Tests of equality between sets of coefficients in two linear regressions. Econometrica 28.
Crossref

 

Christ CF (1994). The Cowles Commission's contributions to econometrics at Chicago, 1939-1955. J. Econ. Literature. 32:30-59.

 

Christiano LJ, Eichenbaum M, Evans LC (2005). Nominal rigidities and the dynamic effects of a shock to monetary policy. J. Political Econ.113:1. Chicago.
Crossref

 

Dabla-Norris, E, Floerkemeier, H, (2006). Transmission mechanisms of monetary policy in Armenia: evidence from VAR analysis. IMF, working paper.
Crossref

 

Dempster AP, Laird NM, Rubin DB (1977). Maximum likelihood from incomplete data via the EM algorithm. J. Royal Statistical Society. 39:1-38.

 

Delgado J, Santos O (2006). Determinantes da inflação em Cabo Verde. Banco de Cabo Verde, working paper.

 

Demchuk O, Łyziak T, Przystupa J, Sznajderska A, Wróbel E (2012). Monetary policy transmission mechanism in Poland. What do we know in 2011? National Bank of Poland, Working paper, No. 116. Warsaw.

 

Dickey DA, Fuller WA (1979). Distribution of the estimators for autoregressive time series with a unit root. J. the American Statistical Association, 74, p. 427–431.
Crossref

 

Eyzaguirre N (1998). Monetary policy transmission: the Chilean case. Bank for International Settlements. Policy Papers nº3 – Basle.

 

Fisher S (1977). Long-term contracts, rational expectations, and the optimal money supply rule. J. Political Econ. 85(1):191-205.
Crossref

 

Ganley J, Salmon C (1997). The industrial impact of monetary policy shocks: some stylized facts. Bank of England.

 

González AG, Gonzalez-Garcia J (2006). Structural changes in the transmission mechanism of monetary policy in Mexico: a non-linear VAR approach. Working Paper, Dirección General de Investigación Económica Banco de México. 6, abr.

 

Granger CWJ (1969). Investigating causal relations by econometric models and cross-spectral methods. Econometrican. 37:424-438.
Crossref

 

Hamilton JD (1989). A new approach to the economic analysis of nonstationary time series and the business cycle. Econometrica 57:357-84.
Crossref

 

Hamilton JD (1990). Analysis of time series subject to changes in regimes. J. Econometrics 45:39-70.
Crossref

 

Hoover K (2006). The methodology of econometrics. T.C. Mills and K. Patterson (eds.) Palgrave Handbooks of Econometrics, vol 1, Econometric Theory, MacMillan.

 

Ireland PN (2005). The monetary transmission mechanism. Federal Reserve Bank of Boston, Working paper.

 

Krolzig H-M (1997). Markov Switching Vector Autoregression modeling. Statistical Inference and Application to Business Cycle Analysis. Berlin: Springer.
Crossref

 

Kuttner K, Mosser P (2002). The Monetary transmission mechanism: some answers and further questions. Federal Reserve Bank of NY Econ. Policy Rev. 15-26.

 

Kwiatkowski D, Phillips PCB, Schmidt P, Shin Y (1992). Testing the null hypothesis of stationarity against the alternative of a unit root. J. Econometrics. 54:159–178.
Crossref

 

Lisman JHC, Sandee J (1964). Derivation of quarterly figures from annual data. Appl. Statistics. 13(2):87-90.
Crossref

 

Marta V (2006). A Euroização da economia Cabo-Verdiana. Banco de Cabo Verde, Working paper.

 

McCallum BT (1986). On "real" and "sticky-price" theories of the business cycle. J. Money, Credit Bank. 18(4):397-414.
Crossref

 

Modenesi AM (2005). Regimes monetários: teoria e a experiência do Real. Barueri-SP: Manole.

 

Phillips PCB, Perron P (1988). Testing for a unit root in time series regression. Biometrika. 75:335–346.
Crossref

 

Ramaswamy R, Sloek ET (1997).The real effects of monetary policy in the European Union: what are the differences? IMF Working Paper n. 97/160.

 

Rocha M (2008). Estabilização macroeconômica e política monetária em Cabo Verde. Praia: IBNL.

 

Semedo AC (2007). Avaliação da sustentabilidade do défice da balança corrente Cabo-Verdiana. Banco de Cabo Verde, working paper.

 

Sheshinski E, Weiss Y (1977). Inflation and coats of pricing adjustment. Review of Economic Studies 44(2):287-304.
Crossref

 

SILVA FILHO OC, da SILVA L. da C, FRASCAROLI BF (2006). Política monetária e mudanças macroeconômicas no Brasil: uma abordagem MS-VAR. Fórum do Banco do Nordeste.

 

Sims CA (1980). Macroeconomics and reality. Econometrica. 48(1):1-48.
Crossref

 

Sims CA (1992). Interpreting the macroeconomic time series facts: the effects of monetary policy. Eur. Econ. Rev. 36(5):975-1000.
Crossref

 

Sims CA, Zha, T (2006). Were there regime switches in U.S. monetary policy? Am. Econ. Rev. 96(1):54-81.
Crossref

 

Tavares AIP (2012). Mudança estrutural e crescimento económico em Cabo Verde. 2012. Relatório de Estágio (Mestrado em Economia) - Faculdade de Economia da Universidade de Coimbra.

 

Taylor JB (1979). Staggered wage setting in a macro model. The American Economic Review, v. 69, n. 2, Papers and Proceedings of the Ninety-First Annual Meeting of the American Economic Association, p. 108-113.

 

Taylor JB (1980). Aggregate dynamics and staggered contracts. J. Political Econ. 88(1):1-23.
Crossref

 

Taylor JB (1995). The monetary transmission mechanism: an empirical framework. J. Econ. Perspectives. 9(4):11-26.
Crossref

 

Tomazzia EC, Meurer R (2010). Transmissão da política monetária: análise de quebras estruturais na economia brasileira recente por modelos VAR, SVAR e MS-VAR. Anais do 38º Encontro Nacional de Economia, Salvador - BA.

 

World Trade Organization (2007). Grupo de Trabalho sobre a Adesão de Cabo Verde. A Adesão de Cabo Verde à Organização Mundial do Comércio. World Trade Organization.