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The Great Financial Crisis of 2007-09 confirmed the vital importance of advancing our understanding of macrofinancial linkages, the two-way interactions between the real economy and the financial sector. The crisis was a bitter reminder of how sharp fluctuations in asset prices, credit and...
Persistent link: https://www.econbiz.de/10012929483
We show that despite heterogeneous financial intermediation structures in EMEs, bank credit remains a powerful channel … their impact on both bank and non-bank credit. Against this backdrop, we argue that the standard monetary policy rules may … for EM Central Banks? …
Persistent link: https://www.econbiz.de/10013011767