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dc.contributor.authorCarpenter, Sethen
dc.contributor.authorDemiralp, Selvaen
dc.date.accessioned2010-11-02-
dc.date.accessioned2011-05-09T09:34:36Z-
dc.date.available2011-05-09T09:34:36Z-
dc.date.issued2009-
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
dc.language.isoengen
dc.publisher|aTÜSİAD-Koç University Economic Research Forum |cIstanbulen
dc.relation.ispartofseries|aWorking Paper |x0906en
dc.subject.jelE51en
dc.subject.jelE52en
dc.subject.ddc330en
dc.subject.keywordmonetary transmission mechanismen
dc.subject.keywordmoney multiplieren
dc.subject.keywordlending channelen
dc.subject.stwTransmissionsmechanismusen
dc.subject.stwGeldpolitiken
dc.subject.stwGeldschöpfungen
dc.subject.stwKreditkanalen
dc.subject.stwVAR-Modellen
dc.subject.stwSchätzungen
dc.subject.stwUSAen
dc.titleMoney and the transmission of monetary policy-
dc.typeWorking Paperen
dc.identifier.ppn638282284en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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