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

页码：309 / 313

页数：5

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