| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP566 |
| DP566 Financial Intermediation and Monetary Policies in the World Economy | |
| Vittorio Grilli; Nouriel Roubini | |
| 发表日期 | 1991-07-01 |
| 出版年 | 1991 |
| 语种 | 英语 |
| 摘要 | In this paper we investigate the role of credit institutions in transmitting monetary shocks to the domestic economy and to the output of the rest of the world. In modelling the monetary and financial sector of the economy we distinguish between monetary injections that take place via lump-sum transfers to individuals and those that involve increased credit to the commercial banking sector through discount window operations. We distinguish between the discount rate of the central bank and the lending and borrowing interest rates of commercial banks, which we assume are also subject to reserve requirements. We find that domestic output increases after a steady state increase in monetary injections via increases in domestic credit, but an increase in the steady state level of monetary transfers reduces the level of output. |
| 主题 | International Macroeconomics |
| 关键词 | Financial intermediation International transmission monetary policy |
| URL | https://cepr.org/publications/dp566 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/529722 |
| 推荐引用方式 GB/T 7714 | Vittorio Grilli,Nouriel Roubini. DP566 Financial Intermediation and Monetary Policies in the World Economy. 1991. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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