Unconventional Monetary Policy in a Financially Heterogeneous Monetary union

Unconventional Monetary Policy in a Financially Heterogeneous Monetary union

The cross-country interbank market in the euro area was a crucial transmission channel of financial stress. By using a two-country DSGE model of a financially heterogeneous monetary union where banks in one country lend funds to their foreign counterparts, I examine its role as shock amplifer and th...

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Vydáno v:MAGKS - Joint Discussion Paper Series in Economics (Band 41-2017)
Hlavní autor: Schwanebeck, Benjamin
Médium: Článek
Jazyk:angličtina
Vydáno: Philipps-Universität Marburg 2017
Témata:
unconventional policy;
financial intermediation
financial frictions
Wirtschaft
interbank market; monetary union
Economics
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