全球智库信息集成服务系统(G2TT): Monetary Policy in the Capitals of Capital

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w23651
来源ID	Working Paper 23651
	Monetary Policy in the Capitals of Capital
	Elena Gerko; Hélène Rey
发表日期	2017-08-07
出版年	2017
语种	英语
摘要	The importance of financial markets and international capital flows have increased greatly since the 1990s. How does this affect the effectiveness of monetary policy? We analyse the transmission of monetary policy in two important financial centres, the United States and the United Kingdom. Studying the responses of mortgage and corporate spreads we find evidence in favour of an important financial channel in both countries. Our identification strategy allows us to study movements in the policy rates and the effect of forward guidance, broadly defined. We also analyse international financial spillovers, which we find to be asymmetric.
主题	Macroeconomics ; Money and Interest Rates ; Monetary Policy ; International Economics ; International Macroeconomics ; Globalization and International Relations ; Financial Economics ; Financial Markets
URL	https://www.nber.org/papers/w23651
来源智库	National Bureau of Economic Research (United States)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/581325
推荐引用方式 GB/T 7714	Elena Gerko,Hélène Rey. Monetary Policy in the Capitals of Capital. 2017.