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Central banking and financial innovation. A survey of the modern literature

Berk, Jan Marc - In: BNL Quarterly Review 55 (2002) 222, pp. 263-297

We review the literature regarding the impact of financial innovation on the monetary transmission mechanism and on the way the central bank can achieve its ultimate goal, that is to control the price level. We argue that, although the form ofcentral bank instruments and current methods for...

Persistent link: https://www.econbiz.de/10010752505

The price level and monetary policy

Kindleberger, Charles P. - In: Banca Nazionale del Lavoro Quarterly Review 55 (2002) 220, pp. 3-12

rates. A serious problem is which index to choose among the national income deflator, wholesale prices, the cost of living … exchange rate, prevention of bubbles in asset prices, or recovery from financial crises. If so, the question of central bank …

Persistent link: https://www.econbiz.de/10010752522

Central banking and financial innovation. A survey of the modern literature

Berk, Jan Marc - In: Banca Nazionale del Lavoro Quarterly Review 55 (2002) 222, pp. 263-297

Persistent link: https://www.econbiz.de/10010752556

The long-run effects of low inflation rates

Hoogenveen, Victoria C.; Kuipers, Simon K. - In: BNL Quarterly Review 53 (2000) 214, pp. 267-285

Low price inflation is an official monetary policy target in many countries because of the positive effects it may generate on economic growth. However, if nominal wage rigidities exist, low price inflation may have a negative effect on economic growth. In this paper we test whether there exists...

Persistent link: https://www.econbiz.de/10010754198