On dynamic monetary theory and the theory of monetary policy in the context of imperfect financial markets
The main findings are that when such credit market frictions cause an economy's financial markets to be bank-oriented, a distinct, but not independent, "credit" channel imparts a supply-side aspect to monetary policy transmission dynamics, over and above the textbook demand-side yield...
| Main Author: | |
|---|---|
| Published: |
University of Cambridge
1999
|
| Subjects: | |
| Online Access: | http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.598168 |