The Monetary Transmission Mechanism: An Empirical Framework
نویسندگان
چکیده
منابع مشابه
The Monetary Transmission Mechanism: An Empirical Framework
he purpose of this paper is to present a simple framework for analyzing the monetary transmission mechanism: the process through which monetary policy decisions are transmitted into changes in real GDP and inflation. There are, of course, many different views of the monetary transmission mechanism. These views differ in the emphasis they place on money, credit, interest rates, exchange rates, a...
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The monetary policy transmission mechanism is complex and our understanding of it imperfect. The Bank of Canada’s mainstream paradigm is quite explicit and well known and consists of three major sets of linkages. The first is from the instrument, the target band for the overnight (or oneday) interest rate,2 to other financial variables: the term structure of market interest rates, rates on depo...
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ژورنال
عنوان ژورنال: Journal of Economic Perspectives
سال: 1995
ISSN: 0895-3309
DOI: 10.1257/jep.9.4.11