[eng] Interest rates, banking spreads and credit supply : the real effects. In a standard ISLM model, the effects of monetary policy work through the demand for money and the (unique) interest rate. In fact, shocks of monetary policy will affect the relative structure of interest rates. In this...

[fre] Asymétries financières et transmission de la politique monétaire en Europe par Virginie Coudert et Benoît Mojon . Dans la perspective d'une politique monétaire unique en Europe, il est essentiel de savoir si une même politique monétaire a un impact similaire sur les économies...

In a standard IS-LM model the effects of monetary policy on real activity come through the demand for money and the (unique) interest rate. Actually, under imperfect substitution among financial instruments, shocks of monetary policy will affect the relative structure of interest rates. In this...

In the last decade, a renewed debate on the monetary transmission mechanism has emerged. Recent empirical works analyse the response of financial and real variables to shifts in monetary policy and interpret its implication for the nature of the monetary transmission mechanism. Both, money and...