Monetary policy and long-run systemic risk-taking
نویسندگان
چکیده
منابع مشابه
Capital Flows and the Risk-Taking Channel of Monetary Policy
We study the dynamics linking monetary policy with bank leverage and show that adjustments in leverage act as the linchpin in the monetary transmission mechanism that works through uctuations in risk-taking. Motivated by the evidence, we formulate a model of the “risk-taking channel” of monetary policy in the international context that rests on the feedback loop between increased leverage of gl...
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The author is a senior economist in the macropolicy section of the Atlanta Fed's research department. He thanks Frank King for comments on an earlier version of this article and Steve Russell for detailed and thoughtful editorial suggestions.
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ژورنال
عنوان ژورنال: Journal of Economic Dynamics and Control
سال: 2018
ISSN: 0165-1889
DOI: 10.1016/j.jedc.2017.11.001