Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/73588 
Erscheinungsjahr: 
2009
Schriftenreihe/Nr.: 
Working Paper No. 0916
Verlag: 
Johannes Kepler University of Linz, Department of Economics, Linz
Zusammenfassung: 
If firms borrow working capital to finance production, then nominal interest rates have a direct influence on inflation dynamics, which appears to be the case empirically. However, interest rates may only partly mirror the cost of working capital. In this paper we explore the role of bank lending standards as a potential additional cost source and evaluate their empirical importance in explaining inflation dynamics in the US and in the euro area.
Schlagwörter: 
New Keynesian Phillips Curve
Cost Channel
Bank Lending Standards
Bayesian Analysis
JEL: 
E40
E50
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
375.81 kB





Publikationen in EconStor sind urheberrechtlich geschützt.