G2TT
来源类型Discussion paper
规范类型论文
来源IDDP566
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
URLhttps://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.
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