|
EconStor >
Institut für Weltwirtschaft (IfW), Kiel >
Economics: The Open-Access, Open-Assessment E-Journal - Journal Articles >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/27533
|
| | |
Full metadata record
| DC Field | | Value | | Language |
| dc.contributor.author | | Tamborini, Roberto | | en_US |
| dc.date.accessioned | | 2009-08-12T07:17:16Z | | - |
| dc.date.available | | 2009-08-12T07:17:16Z | | - |
| dc.date.issued | | 2009 | | en_US |
| dc.identifier.citation | | Economics: The Open-Access, Open-Assessment E-Journal 3 2009-13 1-23 doi:10.5018/economics-ejournal.ja.2009-13 | | - |
| dc.identifier.pi | | doi:10.5018/economics-ejournal.ja.2009-13 | | - |
| dc.identifier.uri | | http://hdl.handle.net/10419/27533 | | - |
| dc.description.abstract | | Drawing on the modern literature on the monetary transmission mechanisms with capital market imperfections, this paper presents a model of the "credit-cost channel" of monetary policy. The thrust of the model is that firms' reliance on bank loans ("credit channel") may make aggregate supply sensitive to bank interest rates ("cost channel"), which are in turn driven by the official rate controlled by the central bank. The model is assessed theoretically by examining whether, and under what conditions, changes in the policy interest rate produce the whole pattern of the observed stylized effects of monetary policy, with no recourse to non-competitive hypotheses and frictions in the goods and labour markets. This result is obtained for parameter values in the range of available consensus estimates, with a caveat concerning labour-supply elasticity to the real wage rate. | | en_US |
| dc.language.iso | | eng | | en_US |
| dc.publisher | | Kiel Institute for the World Economy (IfW) Kiel | | en_US |
| dc.relation.ispartofseries | | economics - The Open-Access, Open-Assessment E-Journal 2009-13 | | en_US |
| dc.subject.jel | | C32 | | - |
| dc.subject.jel | | E51 | | - |
| dc.subject.ddc | | 330 | | en_US |
| dc.subject.keyword | | Macroeconomics and monetary economics | | en_US |
| dc.subject.keyword | | monetary transmission mechanisms | | en_US |
| dc.subject.keyword | | credit channel | | en_US |
| dc.subject.keyword | | cost channel | | en_US |
| dc.subject.stw | | Geldpolitik | | en_US |
| dc.subject.stw | | Kreditkanal | | en_US |
| dc.subject.stw | | Kapitalkosten | | en_US |
| dc.subject.stw | | Transmissionsmechanismus | | en_US |
| dc.subject.stw | | Zinspolitik | | en_US |
| dc.subject.stw | | Theorie | | en_US |
| dc.title | | The "Credit-Cost Channel" of Monetary Policy. A Theoretical Assessment | | en_US |
| dc.type | | Article | | en_US |
| dc.identifier.ppn | | 599043210 | | en_US |
| dc.identifier.url | | http://www.economics-ejournal.org/economics/journalarticles/2009-13 | | - |
| dc.rights.license | | http://creativecommons.org/licenses/by-nc/2.0/de/deed.en | | - |
| dc.identifier.repec | | RePEc:zbw:ifweej:7599 | | - |
| Appears in Collections: | | Economics: The Open-Access, Open-Assessment E-Journal - Journal Articles
|
Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.
|