Monetary-policy transmission in Mauritius
Applying commonly used vector autoregression techniques, new research published by the IMF investigates the transmission mechanism of monetary policy on output and prices for Mauritius.
Using data for 1999-2009, the results show:
• an unexpected monetary policy tightening leads to a decline in prices and output but the effect on output is weaker;
• an unexpected decrease in the money supply or an unexpected increase in the nominal effective exchange rate result in a decrease in prices; and
•
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