Financial shocks and the maturity of the monetary policy rate

Autor:	Petra Gerlach-Kristen, Barbara Rudolf
Rok vydání:	2010
Předmět:	Finance Macroeconomics Economics and Econometrics Inflation targeting business.industry media_common.quotation_subject Monetary policy Financial market Monetary economics Monetary hegemony Maturity (finance) Interest rate Credit channel Economics Fisher hypothesis business media_common
Zdroj:	Economics Letters. 107:333-337
ISSN:	0165-1765
DOI:	10.1016/j.econlet.2010.02.012
Popis:	Monetary policy is typically formulated with a very short-term interest rate, while longer rates matter in the transmission mechanism. We show that financial market shocks impact less on the macroeconomy if policy is set with a longer rate.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::427cf57c9e57a203eb326a2bb6461ca0 https://doi.org/10.1016/j.econlet.2010.02.012 Zobrazit plný text záznamu Full Text from ScienceDirect