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 f...
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| 格式: | 雜誌 |
| 語言: | English |
| 出版: |
Washington, D.C. :
International Monetary Fund,
2008.
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| 叢編: | IMF Working Papers; Working Paper ;
No. 2008/288 |
| 在線閱讀: | Full text available on IMF |