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...

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Bibliographic details
Main Author: Acharya, Viral
Plantin, Guillaume
Format: Publication
Language: English
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)
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