Central banking and financial innovation. A survey of the modern literature

We review the literature regarding the impact of financial innovation on the monetary transmission mechanism and on the way the central bank can achieve its ultimate goal, that is to control the price level. We argue that, although the form ofcentral bank instruments and current methods for implementing monetary policy may change, the goals that the policy makers try achieve by employing these instruments remain valid, and achievable.

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Year of publication:	2002
Authors:	Berk, Jan Marc
Published in:	Banca Nazionale del Lavoro Quarterly Review. - Banca Nazionale del Lavoro. - Vol. 55.2002, 222, p. 263-297
Publisher:	Banca Nazionale del Lavoro
Subject:	Central Banking \| Monetary Policy \| Monetary \| Policy \| Price Level \| Prices

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Extent:	application/pdf
Type of publication:	Article
Classification:	E42 - Monetary Systems; Standards; Regimes; Government and the Monetary System ; E58 - Central Banks and Their Policies ; E31 - Price Level; Inflation; Deflation ; E51 - Money Supply; Credit; Money Multipliers ; E52 - Monetary Policy (Targets, Instruments, and Effects)
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010752556