Monetary easing and financial instability
We study optimal monetary policy in the presence of financial stability concerns. We build a model in which monetary easing can lower the cost of capital for firms and restore the natural level of investment, but does also subsidize inefficient maturity transformation by financial intermediaries in...
|Place of publication:||
Systemic Risk Centre, The London School of Economics and Political Science 01.01.2017
|Data of publication:||2017-01-01|
|Online Access:||available in Bonn?|
|Database:||OpenAIRE (Open Access)
Database information Databases - DBIS