MONETARY POLICY, FINANCIAL CONSTRAINTS, AND REDISTRIBUTION
نویسندگان
چکیده
منابع مشابه
Emu, Monetary Policy and the Role of Financial Constraints
This paper presents some preliminary findings on the impact of a single European monetary policy on industrial performance. Literature on the potential for differential monetary policy impact to drive asymmetric responses across the Union is surveyed, and the importance of the credit channel of policy is identified. The key role of financial constraints on firms is noted. A different treatment ...
متن کاملA Simple Model of Optimal Monetary Policy with Financial Constraints
Recent experience suggests that the operation of monetary policy in emerging market economies is severely limited by the presence of financial constraints. This is seen in the tendency to follow contractionary monetary policy during crises, and the observation that these countries pursue much more stable exchange rates than do high income advanced economies, despite having a more volatile exter...
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...
متن کاملذخیره 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: International Economic Review
سال: 2020
ISSN: 0020-6598,1468-2354
DOI: 10.1111/iere.12468