FINANCIAL SECTOR INTERCONNECTEDNESS AND MONETARY POLICY TRANSMISSION

نویسندگان
چکیده

برای دانلود باید عضویت طلایی داشته باشید

برای دانلود متن کامل این مقاله و بیش از 32 میلیون مقاله دیگر ابتدا ثبت نام کنید

اگر عضو سایت هستید لطفا وارد حساب کاربری خود شوید

منابع مشابه

Monetary Policy and the Financial Sector

In this paper we study whether central banks should react to financial sector variables in their policy rules. We find that responding to asset prices has no impact and does not increase the likelihood of equilibrium indeterminacy. However, a response to entrepreneurial net worth increases the likelihood of determinacy in current and forward-looking policy rules.

متن کامل

Liquidity, Risk Premia, and the Financial Transmission of Monetary Policy

In recent years there has been a resurgence of research on the transmission of monetary policy through the financial system, fueled in part by empirical findings showing that monetary policy affects asset prices and the financial system in ways not explained by the New Keynesian paradigm. In particular, monetary policy appears to impact risk premia in stock and bond prices, and to effectively c...

متن کامل

Financial globalization and monetary policy

Financial Globalization and Monetary Policy* The process of financial globalization has significantly altered the environment in which national monetary policy authorities operate. What implications does this have for the design of monetary policy? The question can be properly addressed only in the context of a model where monetary policy interacts with financial market efficiency. This paper i...

متن کامل

Financial Consolidation and Monetary Policy

he 1990s were characterized by substantial financial sector consolidation across a large number of industrialized countries. This consolidation included within-industry and within-country consolidation as well as cross-industry (for example, banking and insurance) and cross-border consolidation. In addition to mergers and acquisitions, there was a substantial increase in joint ventures and stra...

متن کامل

Financial Globalization and Monetary Transmission

This paper analyzes the way in which international …nancial integration a¤ects the transmission of monetary policy in a New Keynesian open economy framework. It extends Woodford's (2010) analysis to a model with a richer …nancial markets structure, allowing for international trading in multiple assets and subject to …nancial intermedia-tion costs. Two di¤erent forms of …nancial integration are ...

متن کامل

ذخیره در منابع من


  با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید

ژورنال

عنوان ژورنال: Macroeconomic Dynamics

سال: 2018

ISSN: 1365-1005,1469-8056

DOI: 10.1017/s1365100517000177