Leaning Against Windy Bank Lending ePub (Adobe DRM) download by Giovanni Mr. Melina

Leaning Against Windy Bank Lending

INTERNATIONAL MONETARY FUND
Publication date: August 2017
ISBN: 9781484314456
Digital Book format: ePub (Adobe DRM)

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Using an estimated dynamic stochastic general equilibrium model with banking, this paper first provides evidence that monetary policy reacted to bank loan growth in the US during the Great Moderation. It then shows that the optimized simple interest-rate rule features no response to the growth of bank credit. However, the welfare loss associated to the empirical responsiveness is small. The sources of business cycle fluctuations are crucial in determining whether a "leaning-against-the-wind" policy is optimal or not. In fact, the predominant role of supply shocks in the model gives rise to a trade-off between inflation and financial stabilization.
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Leaning Against Windy Bank Lending ePub (Adobe DRM) download by Giovanni Mr. Melina
INTERNATIONAL MONETARY FUND, August 2017
ISBN: 9781484314456
EAN:  9781484314456
ePub (Adobe DRM)
List Price: $9.00 eBook price: $6.99
Leaning Against Windy Bank Lending PDF (Adobe DRM) download by Giovanni Mr. Melina
INTERNATIONAL MONETARY FUND, August 2017
ISBN: 9781484314470
EAN:  9781484314470
PDF (Adobe DRM)
List Price: $9.00 eBook price: $6.99
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