Papua New Guinea: Selected Issues and Statistical Appendix
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Summary:
This paper analyzes the workings and effectiveness of the monetary transmission mechanism in Papua New Guinea. The paper is organized as follows: it describes the current institutional structure in Papua New Guinea; interest rate is discussed; the evidence from vector autoregression analysis on the relationship between monetary policy variables and output and prices is considered; finally, implications are included. The Bank of Papua New Guinea (BPNG) uses a reserve money framework to conduct monetary policy operations. A macroeconomic balance approach estimates the REER, which simultaneously achieves internal and external balance.
Series:
Country Report No. 2008/093
Subject:
Exchange rates Financial services Foreign exchange Income and capital gains taxes Inflation Prices Real effective exchange rates Real exchange rates Repo rates Taxes
English
Publication Date:
March 12, 2008
ISBN/ISSN:
9781451831740/1934-7685
Stock No:
1PNGEA2008001
Pages:
100
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