Does monetary policy lose effectiveness during a credit crunch?
Bijapur, M.
(2010).
Does monetary policy lose effectiveness during a credit crunch?
Economics Letters,
106(1), 42-44.
https://doi.org/10.1016/j.econlet.2009.09.020
This article investigates the effectiveness of monetary policy during a credit crunch by estimating a vector autoregression on the US economy. We present evidence that interest rate cuts have a diminished impact on growth, due to impairment in the relationship between monetary policy and the supply of intermediated credit.
| Item Type | Article |
|---|---|
| Copyright holders | © 2009 Elsevier B.V. |
| Departments | LSE > Academic Departments > Economics |
| DOI | 10.1016/j.econlet.2009.09.020 |
| Date Deposited | 01 May 2014 |
| URI | https://researchonline.lse.ac.uk/id/eprint/56617 |
Explore Further
- E32 - Business Fluctuations; Cycles
- E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit
- G21 - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
- https://www.scopus.com/pages/publications/70849110715 (Scopus publication)
- http://www.sciencedirect.com/science/journal/01651... (Official URL)