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reliant on bank credit. The credit channel theory states that, for small enterprises, a stricter monetary policy stance …
Persistent link: https://www.econbiz.de/10010469550
heavily reliant on bank credit. The credit channel theory states that, for small enterprises, a stricter monetary policy …
Persistent link: https://www.econbiz.de/10010469551
Persistent link: https://www.econbiz.de/10000975927
Persistent link: https://www.econbiz.de/10012127260
The viability of forward guidance as a monetary policy tool depends on the horizon over which it can be communicated and its influence on expectations over that horizon. We develop and estimate a model of imperfect central bank communications and use it to measure how effectively the Fed has...
Persistent link: https://www.econbiz.de/10011986452
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