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The Impact of Monetary Policy on Economic Activity - Evidence from a Meta-Analysis

Masagus M. Ridhwan, Henri de Groot () and Peter Nijkamp
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Masagus M. Ridhwan: VU University Amsterdam, Bank Indonesia

No 10-043/3, Tinbergen Institute Discussion Papers from Tinbergen Institute

Abstract: This paper presents the findings a meta-analysis identifying the causes of variation in the impact of monetary policies on economic development. The sample of observations included in our meta-analysis is drawn from primary studies that uniformly employ Vector Autoregressive (VAR) models. Our findings reveal that capital intensity, financial deepening, the inflation rate, and economic size are important in explaining the variation in outcomes across regions and over time. Differences in the type of models used in the primary studies also significantly contribute to the explanation of the variation in study outcomes.

Keywords: Monetary policy; Economic development; Meta-analysis (search for similar items in EconPapers)
JEL-codes: E52 R11 C83 (search for similar items in EconPapers)
Date: 2010-04-21
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