Have Long‑term Financial Trends Changed the Transmission of Monetary Policy?
收藏Organisation for Economic Co-operation and Development2026-04-11 收录
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This paper addresses the question of whether and how long-term financial trends may have modified
the transmission mechanism from monetary policy decisions to economic activity. The focus is on longterm
changes, abstracting from the disruptions created by the 2007-08 financial turmoil which are
temporarily affecting the transmission mechanism. The...
