The financial accelerator and monetary policy rules

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.

MoreLess

Year of publication:	2012
Authors:	Kamber, Güneş ; Thoenissen, Christoph
Published in:	Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 115.2012, 2, p. 309-313
Publisher:	Elsevier
Subject:	Financial acceleration \| Financial frictions \| Monetary policy

More details

Type of publication:	Article
Classification:	E32 - Business Fluctuations; Cycles ; E52 - Monetary Policy (Targets, Instruments, and Effects)
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011041637