The Cost Channel of Monetary Policy : Further Evidence for the United States and the Euro Area /
This paper estimates the importance of the cost channel of monetary policy in a New Keynesian model of the business cycle. A model with nominal rigidities is extended by assuming that a fraction of firms need to borrow money to pay their wage bill. Hence, monetary policy tightenings increase effecti...
| প্রধান লেখক: | |
|---|---|
| বিন্যাস: | পত্রিকা |
| ভাষা: | English |
| প্রকাশিত: |
Washington, D.C. :
International Monetary Fund,
2003.
|
| মালা: | IMF Working Papers; Working Paper ;
No. 2003/149 |
| অনলাইন ব্যবহার করুন: | Full text available on IMF |