As a result, the modelled transmission channel
is misaligned with the conditions of operation.
Lastly, we augment the basic VAR by including various monetary transmission channels
and analyze the sector-specific importance of each channel.
[T.sub.s] is the system activation (SA) message transmission time, and [N.sub.CH] is the number of CH activation message transmission channels
. If a member node does not receive an SA message, then it switches to the next channel and waits again.
The authors determined the deviation d for the different transmission channel
models for all 128 constellations.
If the transmission channel
is flat during subchannel, the CSI estimation using (6) is equivalent with the CSI at the center frequency point.
It is worth mentioning that the FDE should be performed for samples between GI2 and GI1', inclusive, because that is the section corresponding to the cyclic convolution between GI1 and GI1' with the transmission channel
In the era of conventional monetary policy, transmission channels
were largely confined to borrowing costs and their associated impacts on credit-sensitive sectors of real economies, such as homebuilding, motor vehicles, and business capital spending.
In particular, two segments of the transmission channel
appear to have operated with a longer lag since the mid-1980s: the transmission from shorter-term to longer-term rates and the transmission from longer-term rates to employment.
In the following analysis, we therefore tried to apply a vector autoregression model for both the Czech Republic and the EMU to observe and compare the transmission through interest rate transmission channel
. We have chosen the GDP, the consumer price index and the exchange rate as basic variables for the model, i.e.
Let us now turn to the analysis of the bank credit channel, which is another important transmission channel
in the euro area.
Before proceeding with the empirical investigation, we discuss in brief the variables that entered our growth regressions and their plausibility to act as a transmission channel
. The first transmission channel
we explore points to a negative link between ethnic fragmentation and investment.
The BSP started the loan officers' survey to improve its understanding of banks' lending behavior and to help in assessing the demand conditions, potential risks in the asset markets, and possible strains in the bank lending channel as a transmission channel
of its monetary policy.