Author Description

This Paper Analyzes Monetary Policy In Transition. It Examines The Dynamics Of Monetary Policy In Mongolia Using Granger-causality Tests For Monetary Variables And Inflation. The Paper Also Analyzes Money Demand Using Data From 22 Mongolian Regions During 1993-1998. The Analyses Confirm The Key Role Of Monetary Policy In Stabilization And Reveal That Even In A Transition Economy As Rudimentary As Mongolia, A Stable Money Demand And A Predictable Relationship Between Inflation And Monetary Variables Do Exist. Hence Market-based Monetary Policy Is Effective. In Addition, The Analysis Points To A Difference Between Transition And Industrial Economies In The Elasticity Of Money Demand With Respect To Activity, Reflecting The Larger Role For Transactions Demand For Money. Torsten Sloek. Bibliographic Level Mode Of Issuance: Monograph English