منابع مشابه
Financial Crises: Prevention, Correction, and Monetary Policy
The financial crisis that surfaced in 2007 has stressed the need to identify the ultimate sources of the incentives that were behind the preceding credit and housing bubbles. To lower the likelihood of future financial collapses, prudent economic policies as well as an adequate regulatory and supervisory framework for financial institutions are required. Monetary policy, in turn, should be dire...
متن کاملFinancial Crises, Unconventional Monetary Policy Exit Strategies, and Agents’ Expectations
This paper studies the implications of exit strategies from unconventional monetary policy. Using a Markov switching DSGE model with financial frictions, agents in the model have rational expectations about the probability of financial crises, the probability of an unconventional response to crises, and the exit strategy used. Selling offassets quickly produces a double-dip recession; in contra...
متن کاملFinancial 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 کاملFinancial 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 کاملFinancial Cycles and Monetary Policy in Iran's Economy
The global financial crisis in 2007 showed that financial variables from different channels could exacerbate business cycle fluctuations. From the perspective of modeling in the economy, the models that assumed financial markets without friction lost their credibility. Accordingly, the correct response of the monetary authorities to the financial cycles has become one of the theoretical and pol...
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ژورنال
عنوان ژورنال: Gospodarka Narodowa
سال: 2009
ISSN: 2300-5238
DOI: 10.33119/gn/101230