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Serbian Monetary Conditions Index [PDF]

, 2005
Monetary conditions index (MCI) is an indicator of the combined effect of short-term interest rates and the exchange rate on price stability and/or aggregate demand. The MCI enables monitoring of changes in the level of restrictiveness and/or expansiveness of monetary policy compared to the base period.
Marina Mladenovic-Komatina, Mirjana Palic, Boris Vukicevic   +2 more
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A Discussion of the Monetary Condition Index [PDF]

, 2010
The monetary conditions index (MCI) was developed in the early 1990s with the aim of capturing two of the important monetary transmission channels by combining both interest rates and exchange rates. This article examines the development of the MCI and explores the difficulties with implementing it as well as many of the problems associated with ...
Osborne-Kinch, Jenny, Holton, Sarah
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Estimating monetary policy rules for Malaysia: an optimal monetary conditions index [PDF]

Economics Bulletin, 2007
Based on the concept of the monetary conditions index (MCI) to underscore the important role of the interest rates parity, the paper attempts to estimate a model of optimal monetary policy for open emerging market economies. It is designed to shed a light of significance of the internal and external equilibrium and provide the basis for the analysis ...
Pei-Tha Gan, Kian-Teng Kwek
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A Monetary Conditions Index for Mainland China [PDF]

, 2005
Economic and financial developments on the Mainland have important implications for Hong Kong. This paper presents an empirical framework for assessing monetary and financial conditions on the Mainland by estimating a monetary conditions index (MCI).
Wensheng Peng, Frank Leung
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The role of monetary conditions and the monetary conditions index in the conduct of policy [speech] [PDF]

Bank of Canada Review, 1995
In these excerpts from a presentation to a conference in Toronto, Deputy Governor Charles Freedman analyses the way in which the monetary conditions index (MCI) enters into the Bank's thinking and actions. He describes how the Bank works in the context of a forward-looking assessment of economic developments and inflationary pressures to decide upon a ...
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Broad Monetary Condition Index: An Indicator for Short-Run Monetary Management in Vietnam

2014
We construct broad monetary condition index (MCI) for monetary policy management in Vietnam. MCI is composed of key monetary transmission variables including interest rate, exchange rate, credit and stock market price. Weights of composite variables are derived from reduced form IS-PC framework and impulse response function based on vector ...
Trinh Pham, Kim Nguyen
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Is Monetary Condition Index an Important Indicator for Malaysia?

SSRN Electronic Journal, 2009
This paper estimates the augmented real monetary conditions index (MCI) for Malaysia and evaluates its significance over 1980:1-2004:4 using ARDL cointegration analysis as proposed by Pesaran et al. (2001). The relative strength of the four monetary policy transmission channels, namely the exchange rate, interest rate, asset price and credit channels ...
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Measuring monetary conditions in Europe: Use and limitations of the monetary conditions index [PDF]

, 1999
The monetary conditions index is a composite index of interest and exchange rates frequently used by central banks, the International Monetary Fund, and the Organisation for Economic Cooperation and Development. This paper considers the benefits and weaknesses of the monetary conditions index in the light of large macroeconometric models.
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Construction of China’s Monetary Condition Index Based on the STR Model

2013
Based on China’s monthly data ranging from January 1996 to January 2012, using smooth transition regression model (STR), construct China’s nonlinear monetary condition index. The conclusion shows that the constructed nonlinear MCI is highly in consistent with the tendency of inflation, thus it could be the indictor of the implement of China’s monetary ...
De-cai Zhou, Wen-ping Qi, Zheng-yi Jiang
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Estimating monetary conditions index for selected countries in the ECOWAS region

2022
Monetary conditions index (MCI) has become an important indicator of monetary policy performance since its introduction by Bank of Canada in the 1990s. This is so, as the index allows central banks to gauge monetary policy stance and effectiveness.
Diallo, Ibrahima, Konté, Mamadou Abdoulaye   +1 more
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