The Liquidity Effect in Bank-Based and Market-Based Financial Systems

This paper assesses how the financial system influences the strength of the liquidity effect in a calibrated limited participation model of the monetary transmission mechanism. The model suggests that bankbased systems should be characterized by smaller liquidity effects since monetary injections are spread out over a larger number of firms.

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Year of publication:	2007-10
Authors:	Scharler, Johann
Institutions:	Institut für Volkswirtschaftslehre, Johannes-Kepler-Universität Linz
Subject:	limited participation \| transmission mechanism \| financial systems

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Extent:	application/pdf
Series:	Economics working papers.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Number 2007-18
Classification:	E32 - Business Fluctuations; Cycles ; E52 - Monetary Policy (Targets, Instruments, and Effects) ; E58 - Central Banks and Their Policies
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005627243