The financial accelerator and monetary policy rules

被引：1
|
作者：
Kamber, Guenes [1 ]
Thoenissen, Christoph [1 ]
机构：
[1] Victoria Univ Wellington, Sch Econ & Finance, Wellington 6140, New Zealand
来源：
ECONOMICS LETTERS | 2012年 / 115卷 / 02期
关键词：
Financial acceleration; Financial frictions; Monetary policy;
D O I：
10.1016/j.econlet.2011.12.068
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
Comparing Bernanke et al.'s (1999) financial accelerator model to a comparable model without an operational financial accelerator mechanism, we find that financial acceleration is reduced when monetary policy reacts to the output gap and when firm-specific volatility rises. (C) 2011 Elsevier B.V. All rights reserved.
引用
收藏
页码：309 / 313
页数：5
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