Mehrotra, Aaron; Yetman, James - Bank for International Settlements (BIS) - 2014
-maximising monetary policy. Our theoretical framework is based on Galí, López-Salido and Vallés (2004). In this model, only financially … monetary policy implies a positive relationship between the share of financially included households and the ratio of output … their monetary policy decisions, who might be most likely to set monetary policy optimally. …