|
|
|
|
| LEADER |
01719cas a2200253 a 4500 |
| 001 |
AALejournalIMF017852 |
| 008 |
230101c9999 xx r poo 0 0eng d |
| 020 |
|
|
|c 5.00 USD
|
| 020 |
|
|
|z 9781484312674
|
| 022 |
|
|
|a 1018-5941
|
| 040 |
|
|
|a BD-DhAAL
|c BD-DhAAL
|
| 100 |
1 |
|
|a Melina, Giovanni.
|
| 245 |
1 |
0 |
|a Leaning Against Windy Bank Lending /
|c Giovanni Melina, Stefania Villa.
|
| 264 |
|
1 |
|a Washington, D.C. :
|b International Monetary Fund,
|c 2017.
|
| 300 |
|
|
|a 1 online resource (68 pages)
|
| 490 |
1 |
|
|a IMF Working Papers
|
| 500 |
|
|
|a <strong>Off-Campus Access:</strong> No User ID or Password Required
|
| 500 |
|
|
|a <strong>On-Campus Access:</strong> No User ID or Password Required
|
| 506 |
|
|
|a Electronic access restricted to authorized BRAC University faculty, staff and students
|
| 520 |
3 |
|
|a Using an estimated dynamic stochastic general equilibrium model with banking, this paper first provides evidence that monetary policy reacted to bank loan growth in the US during the Great Moderation. It then shows that the optimized simple interest-rate rule features no response to the growth of bank credit. However, the welfare loss associated to the empirical responsiveness is small. The sources of business cycle fluctuations are crucial in determining whether a 'leaning-against-the-wind' policy is optimal or not. In fact, the predominant role of supply shocks in the model gives rise to a trade-off between inflation and financial stabilization.
|
| 538 |
|
|
|a Mode of access: Internet
|
| 700 |
1 |
|
|a Villa, Stefania.
|
| 830 |
|
0 |
|a IMF Working Papers; Working Paper ;
|v No. 2017/179
|
| 856 |
4 |
0 |
|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2017/179/001.2017.issue-179-en.xml
|z IMF e-Library
|