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dc.contributor.authorCarpenter, Sethen_US
dc.contributor.authorDemiralp, Selvaen_US
dc.date.accessioned2010-11-02en_US
dc.date.accessioned2011-05-09T09:34:36Z-
dc.date.available2011-05-09T09:34:36Z-
dc.date.issued2009en_US
dc.identifier.urihttp://hdl.handle.net/10419/45429-
dc.description.abstractThe transmission mechanism of monetary policy has received extensive treatment in the macroeconomic literature. Most models currently used for macroeconomic analysis exclude money or else model money demand as entirely endogenous. Nevertheless, academic research and many textbooks continue to use the money multiplier concept in discussions of money. We explore the institutional structure of the transmission mechanism beginning with open market operations through to money and loans to document that the mechanism does not work through the standard multiplier model or the bank lending channel. Our analysis, however, does not reflect on the existence of a broader credit channel.en_US
dc.language.isoengen_US
dc.publisherTÜSİAD-Koç University Economic Research Forum Istanbulen_US
dc.relation.ispartofseriesTÜSİAD-Koç University Economic Research Forum working paper series 0906en_US
dc.subject.jelE51en_US
dc.subject.jelE52en_US
dc.subject.ddc330en_US
dc.subject.keywordmonetary transmission mechanismen_US
dc.subject.keywordmoney multiplieren_US
dc.subject.keywordlending channelen_US
dc.subject.stwTransmissionsmechanismusen_US
dc.subject.stwGeldpolitiken_US
dc.subject.stwGeldschöpfungen_US
dc.subject.stwKreditkanalen_US
dc.subject.stwVAR-Modellen_US
dc.subject.stwSchätzungen_US
dc.subject.stwUSAen_US
dc.titleMoney and the transmission of monetary policyen_US
dc.typeWorking Paperen_US
dc.identifier.ppn638282284en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:ERF Working Paper Series, TÜSİAD-Koç University Economic Research Forum (ERF)

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