Articlebronze1995

The Monetary Transmission Mechanism: An Empirical Framework

787 citations0/0 files storedThe Journal of Economic Perspectives

No readable copy stored yet — this record is metadata only.

Monetary Policy and Economic Impact Banking stability, regulation, efficiency Economic theories and models

Abstract

This paper provides an overview of the monetary transmission mechanism describing the impact of changes in monetary policy on real GDP. Changes in financial market prices--including long-term interest rates and exchange rates--are the main vehicle for the transmission of policy. The framework incorporates rational expectations and policy rules. It is empirical and appears to fit the facts well.

Citations in this library

Stored only when both papers are in the corpus — 787 citations exist upstream.

References

2019American Economic Review 1993Discretion versus policy rules in practice 1986Alternative Explanations of the Money-Income Correlation 1970A Theoretical Framework for Monetary Analysis

Cited by

2010How to Understand High Food Prices 1996The Channels of Monetary Transmission: Lessons for Monetary Policy 2010How Has the Monetary Transmission Mechanism Evolved Over Time?2003Monetary Policy Transmission in the Euro Area 2002Evidence on the bank lending channel in Europe 1998Asymmetries in housing and financial market institutions and EMU 2000How Should Monetary Policy be Conducted in an Era of Price Stability?2014Monetary policy and risk taking

Imported from OpenAlex (CC0) — nothing here is generated.