Is Monetary Policy Effective When Credit is Low?

Is Monetary Policy Effective When Credit is Low?
Monetary policy, at least in part, operates through both an interest rate and credit channel. The question arises, therefore, whether monetary policy is a less potent a device in affecting output and inflation in countries that have low levels of credit and where investment and consumption are not financed by borrowing in local currency. This... READ MORE...

Publication date: December 2008
ISBN 9781451871463
$18.00

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