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| 01826cam 2200337za 4500 |
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| 001 | 9.828455 |
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| 003 | CaOODSP |
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| 005 | 20221107145040 |
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| 007 | cr ||||||||||| |
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| 008 | 161201s2016 oncd ob f000 0 eng d |
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| 040 | |aCaOODSP|beng |
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| 041 | |aeng|bfre |
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| 043 | |an-cn--- |
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| 086 | 1 |aFB3-5/2016-49E-PDF |
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| 100 | 1 |aShukayev, Malik. |
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| 245 | 10|aMonetary policy tradeoffs between financial stability and price stability |h[electronic resource] / |cby Malik Shukayev and Alexander Ueberfeldt. |
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| 260 | |a[Ottawa] : |bBank of Canada, |cc2016. |
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| 300 | |aii, 44 p. : |bgraphs. |
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| 490 | 1 |aStaff Working Paper, |x1701-9397 ; |v2016-49 |
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| 500 | |a"November 2016." |
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| 504 | |aIncludes bibliographical references. |
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| 520 | 3 |a"We analyze the impact of interest rate policy on financial stability in an environment where banks can experience runs on their short-term liabilities, forcing them to sell assets at fire-sale prices. Price adjustment frictions and a state-dependent risk of financial crisis create the possibility of a policy tradeoff between price stability and financial stability. Focusing on Taylor rules with monetary policy possibly reacting to banks’ short-term liabilities, we find that the optimized policy uses the extra tool to support investment at the expense of higher inflation and output volatility"--Abstract. |
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| 546 | |aAbstract in French. |
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| 692 | 07|2gccst|aInterest rates |
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| 692 | 07|2gccst|aBanks |
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| 692 | 07|2gccst|aMonetary policy |
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| 692 | 07|2gccst|aFinancial analysis |
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| 700 | 1 |aUeberfeldt, Alexander. |
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| 710 | 2 |aBank of Canada. |
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| 830 | #0|aStaff working paper (Bank of Canada)|x1701-9397 ; |v2016-49|w(CaOODSP)9.806221 |
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| 856 | 40|qPDF|s997 KB|uhttps://publications.gc.ca/collections/collection_2016/banque-bank-canada/FB3-5-2016-49-eng.pdf |
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