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dc.contributor.authorBen Amar, Amine
dc.date.accessioned2018-03-28T13:02:27Z
dc.date.available2018-03-28T13:02:27Z
dc.date.issued2018
dc.identifier.issn1545-2921
dc.identifier.urihttps://basepub.dauphine.fr/handle/123456789/17603
dc.language.isoenen
dc.subjectIslamic banksen
dc.subjectconventional banksen
dc.subjectIIBRen
dc.subjectLIBORen
dc.subjectwavelet coherenceen
dc.subject.ddc332en
dc.subject.classificationjelE.E5.E52en
dc.subject.classificationjelG.G2.G21en
dc.titleAn old wine in new shari'a compliant bottles? A time-frequency wavelet analysis of the efficiency of monetary policy in dual financial systemsen
dc.typeArticle accepté pour publication ou publié
dc.description.abstractenUnderstanding the interrelationships between Islamic and conventional banks in dual financial systems is crucial for monetary policy decision makers. Using the wavelet coherence approach, this paper empirically investigates the dependency between the LIBOR and an Islamic benchmark rate, namely the IIBR (Islamic Interbank Benchmark Rate). This approach allows us to study the dynamics of the relationship between the LIBOR and the IIBR in the time-frequency space, then, to analyze to which extent Islamic financial institutions react to interest rate and, finally, to conclude whether the presence of Islamic banks enhance (or not) the efficiency of monetary policy. The result suggests not only that Islamic and conventional banks are alike, in terms of their business model, but also that Islamic banks react to changes in interest rates with some delay, which may affect the effectiveness of the monetary policy transmission mechanism.en
dc.relation.isversionofjnlnameEconomics Bulletin
dc.relation.isversionofjnlvol38en
dc.relation.isversionofjnlissue1en
dc.relation.isversionofjnldate2018
dc.relation.isversionofjnlpages558-564en
dc.relation.isversionofjnlpublisherEconomics bulletinen
dc.subject.ddclabelEconomie financièreen
dc.relation.forthcomingnonen
dc.relation.forthcomingprintnonen
dc.description.ssrncandidatenonen
dc.description.halcandidateouien
dc.description.readershiprechercheen
dc.description.audienceInternationalen
dc.relation.Isversionofjnlpeerreviewedouien
dc.relation.Isversionofjnlpeerreviewedouien
dc.date.updated2018-03-28T12:21:42Z
hal.person.labIds511169
hal.identifierhal-01745747*


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