A Changing Financial Environment and the Implications for Monetary Policy:
Monetary policy affects activity, and ultimately inflation, in a number of ways. The most important of these is generally considered to be through the effect of interest rates directly on the demand for goods by households and firms. However, monetary policy can also influence activity through its i...
Gespeichert in:
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| Weitere Verfasser: | , |
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2000
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| Schriftenreihe: | OECD Economics Department Working Papers
no.243 |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | Monetary policy affects activity, and ultimately inflation, in a number of ways. The most important of these is generally considered to be through the effect of interest rates directly on the demand for goods by households and firms. However, monetary policy can also influence activity through its impact on the value of assets that, in turn, will influence the behaviour of households and firms; e.g. by changing wealth and, through an impact on balance sheets, borrowing costs. Recent financial market developments may have made these effects of monetary policy more important but at the same time less easy to predict. In particular, the size of financial markets has risen relative to activity and readily tradable assets are becoming increasingly important relative to other financial assets. Prices of such assets tend to be sensitive to shifts in market expectations about the future course of general economic developments and in particular interest rates. With these changing financial ... |
| Beschreibung: | 1 Online-Ressource (48 p.) 21 x 29.7cm. |
| DOI: | 10.1787/511388364355 |
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| spelling | Mylonas, Paul VerfasserIn aut A Changing Financial Environment and the Implications for Monetary Policy Paul, Mylonas, Sebastian, Schich and Gert, Wehinger Paris OECD Publishing 2000 1 Online-Ressource (48 p.) 21 x 29.7cm. Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier OECD Economics Department Working Papers no.243 Monetary policy affects activity, and ultimately inflation, in a number of ways. The most important of these is generally considered to be through the effect of interest rates directly on the demand for goods by households and firms. However, monetary policy can also influence activity through its impact on the value of assets that, in turn, will influence the behaviour of households and firms; e.g. by changing wealth and, through an impact on balance sheets, borrowing costs. Recent financial market developments may have made these effects of monetary policy more important but at the same time less easy to predict. In particular, the size of financial markets has risen relative to activity and readily tradable assets are becoming increasingly important relative to other financial assets. Prices of such assets tend to be sensitive to shifts in market expectations about the future course of general economic developments and in particular interest rates. With these changing financial ... Economics Schich, Sebastian MitwirkendeR ctb Wehinger, Gert MitwirkendeR ctb FWS01 ZDB-13-SOC FWS_PDA_SOC https://doi.org/10.1787/511388364355 Volltext |
| spellingShingle | Mylonas, Paul A Changing Financial Environment and the Implications for Monetary Policy Economics |
| title | A Changing Financial Environment and the Implications for Monetary Policy |
| title_auth | A Changing Financial Environment and the Implications for Monetary Policy |
| title_exact_search | A Changing Financial Environment and the Implications for Monetary Policy |
| title_full | A Changing Financial Environment and the Implications for Monetary Policy Paul, Mylonas, Sebastian, Schich and Gert, Wehinger |
| title_fullStr | A Changing Financial Environment and the Implications for Monetary Policy Paul, Mylonas, Sebastian, Schich and Gert, Wehinger |
| title_full_unstemmed | A Changing Financial Environment and the Implications for Monetary Policy Paul, Mylonas, Sebastian, Schich and Gert, Wehinger |
| title_short | A Changing Financial Environment and the Implications for Monetary Policy |
| title_sort | changing financial environment and the implications for monetary policy |
| topic | Economics |
| topic_facet | Economics |
| url | https://doi.org/10.1787/511388364355 |
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