Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/152547 
Erscheinungsjahr: 
2002
Schriftenreihe/Nr.: 
ECB Working Paper No. 113
Verlag: 
European Central Bank (ECB), Frankfurt a. M.
Zusammenfassung: 
This paper provides a brief survey of the role of financial frictions in the monetary transmission mechanism. After noting some of the key stylised facts that any model of the transmission mechanisms must be consistent with, we discuss both the classical interest rate channel and the credit and bank lending channels of monetary transmission. We then review the empirical evidence relating to the relative importance of these channels. Finally we consider what impact the presence of significant financial frictions might have on the conduct of monetary policy
Schlagwörter: 
bank-lending channel
credit channel
monetary policy
transmission mechanism
JEL: 
E52
E58
E44
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
549.44 kB





Publikationen in EconStor sind urheberrechtlich geschützt.