Do bank-based financial systems reduce macroeconomic volatility by smoothing interest rates?

This paper investigates the business cycle implications of limited pass-through from market interest rates to retail interest rates based on a calibrated sticky price model. The main result of the paper is that limited interest rate pass-through reduces output volatility to a modest extent as long a...

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Bibliographic details
Volume: 30
Main Author: Scharler, Johann
Format: Journal Article
Language: English
Zielgruppe: Academic
Place of publication: AMSTERDAM Elsevier Inc 01.09.2008
ELSEVIER SCIENCE BV
Elsevier
Elsevier B.V
published in: Journal of macroeconomics Vol. 30; no. 3; pp. 1207 - 1221
Data of publication: September 2008
ISSN: 0164-0704
1873-152X
EISSN: 1873-152X
Discipline: Economics
Series: Journal of Macroeconomics
Subjects:
E52
E44
E32
US
Online Access: available in Bonn?
Database: Social Sciences Citation Index
Web of Science - Social Sciences Citation Index - 2008
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