Financial intermediation and the monetary transmission mechanism
The article explores the role of financial intermediation in the monetary transmission mechanism. It discusses how and why shocks that affect lenders' willingness to lend can have an impact on economic activity, and why this needs to be factored into analyses of the interaction of monetary policy, the financial sector and the real economy.
Year of publication: |
1999
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Authors: | Claus, Iris ; Smith, Christie |
Published in: |
Reserve Bank of New Zealand Bulletin. - Reserve Bank of New Zealand. - Vol. 62.1999, December, 4
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Publisher: |
Reserve Bank of New Zealand |
Saved in:
freely available
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