Derivatives Effect on Monetary Policy Transmission

Derivatives Effect on Monetary Policy Transmission
This paper examines changes in the monetary policy transmission mechanism in the presence of derivatives markets. The effect of adding derivatives markets is analyzed independently for each of the main channels of monetary policy transmission: interest rates, credit, and exchange rates. Theoretically, derivatives trading speeds up transmission... READ MORE...

Publication date: September 1997
ISBN 9781451854343
$15.00

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