The Resource Have Long-term Financial Trends Changed the Transmission of Monetary Policy?, Boris Cournède, Rudiger Ahrend and Robert Price, (electronic resource)

Have Long-term Financial Trends Changed the Transmission of Monetary Policy?, Boris Cournède, Rudiger Ahrend and Robert Price, (electronic resource)

Label
Have Long-term Financial Trends Changed the Transmission of Monetary Policy?
Title
Have Long-term Financial Trends Changed the Transmission of Monetary Policy?
Statement of responsibility
Boris Cournède, Rudiger Ahrend and Robert Price
Creator
Contributor
Subject
Language
eng
Summary
This paper addresses the question of whether and how long-term financial trends may have modified the transmission mechanism from monetary policy decisions to economic activity. The focus is on longterm changes, abstracting from the disruptions created by the 2007-08 financial turmoil which are temporarily affecting the transmission mechanism. The first series of findings is that a number of factors have worked to strengthen the transmission of monetary policy, including more competitive financial markets, higher household indebtedness, greater diversity in the supply of financial products, greater financial integration and more responsive asset pricing mechanisms. However, other factors appear to have simultaneously gone in the direction of weakening transmission of domestic policy, including greater external financial influences, lower exchange-rate pass-through and a broad-based shift towards fixed-rate assets and liabilities. On balance, monetary policy appears to remain a powerful tool for guiding aggregate demand, but a number of changes that have worked to support the strength of transmission have also increased risks to financial stability
Member of
Cataloging source
FR-PaOEC
http://library.link/vocab/creatorName
Cournede, Boris
Government publication
international or intergovernmental publication
Index
no index present
Literary form
non fiction
Nature of contents
dictionaries
http://library.link/vocab/relatedWorkOrContributorName
  • Ahrend, Rudiger
  • Price, Robert
Series statement
OECD Economics Department Working Papers,
Series volume
no.634
http://library.link/vocab/subjectName
Economics
Label
Have Long-term Financial Trends Changed the Transmission of Monetary Policy?, Boris Cournède, Rudiger Ahrend and Robert Price, (electronic resource)
Instantiates
Publication
Antecedent source
not applicable
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Control code
762085297
Dimensions
21 x 30 cm
Extent
1 online resource 38 pages
File format
one file format
Form of item
online
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other control number
10.1787/238203348082
Specific material designation
remote
System control number
(OCoLC)762085297
Label
Have Long-term Financial Trends Changed the Transmission of Monetary Policy?, Boris Cournède, Rudiger Ahrend and Robert Price, (electronic resource)
Publication
Antecedent source
not applicable
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Control code
762085297
Dimensions
21 x 30 cm
Extent
1 online resource 38 pages
File format
one file format
Form of item
online
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other control number
10.1787/238203348082
Specific material designation
remote
System control number
(OCoLC)762085297

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