Title of article :
Deposit rateceilingsandmonetarytransmissionintheUS
Author/Authors :
Karel Mertens، نويسنده ,
Issue Information :
روزنامه با شماره پیاپی سال 2008
Pages :
13
From page :
1290
To page :
1302
Abstract :
Establishingtheexistenceandnatureofchangesintheconductandtransmissionof monetarypolicyiskeyinunderstandingtheremarkablemacroeconomicperformance of theUSsincethemid-1980s.Thispaperpresentsevidenceonaphenomenonof disintermediationoccurringduringthemajorrecessionsinthe1960sand1970s,but absenteversince,andshowsthatdisintermediationiscloselylinkedtotheexistenceof depositrateceilingsunderregulationQ.InamonetaryDSGEmodelthatincorporates depositrateceilingsasoccasionallybindingconstraints,theregulationaltersthe behaviorofmoneyaggregatesandexacerbatesthedropineconomicactivityfollowinga monetarytightening.TheresultsofathresholdVARlendsupporttothemain theoreticalpredictionsofthemodel
Keywords :
Monetary policyMonetary transmissionBankingFinancial regulation
Journal title :
Journal of Monetary Economics
Serial Year :
2008
Journal title :
Journal of Monetary Economics
Record number :
846249
Link To Document :
https://search.isc.ac/dl/search/defaultta.aspx?DTC=10&DC=846249
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