Rebucci, Alessandro; Cesa-Bianchi, Ambrogio - Inter-American Development Bank - 2013
interaction between monetary and macroprudential policies. First, we find that interest rate rigidities in a monopolistic banking … stability in response to contractionary shocks. This has important implications for the role played by U. S. monetary policy in … the run-up to the global financial crisis: the model suggests that the weak link in the U. S. policy framework was not the …