Does Easing Monetary Policy Increase Financial Instability?

Does Easing Monetary Policy Increase Financial Instability?
This paper develops a model featuring both a macroeconomic and a financial friction thatspeaks to the interaction between monetary and macro-prudential policies. There are two mainresults. First, real interest rate rigidities in a monopolistic banking system have an asymmetricimpact on financial stability: they increase the probability of a... READ MORE...

Publication date: June 2015
ISBN 9781513588490
$18.00

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