Monetary policy tradeoffs between financial stability and price stability / by Malik Shukayev and Alexander Ueberfeldt.: FB3-5/2016-49E-PDF
"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.
Permanent link to this Catalogue record:
publications.gc.ca/pub?id=9.828455&sl=0
| Department/Agency |
|
|---|---|
| Title | Monetary policy tradeoffs between financial stability and price stability / by Malik Shukayev and Alexander Ueberfeldt. |
| Series title |
|
| Publication type | Monograph - View Master Record |
| Language | [English] |
| Format | Digital text |
| Electronic document | |
| Note(s) |
|
| Publishing information |
|
| Author / Contributor |
|
| Description | ii, 44 p. : graphs. |
| Catalogue number |
|
| Subject terms |
Request alternate formats
To request an alternate format of a publication, complete the Government of Canada Publications email form. Use the form’s “question or comment” field to specify the requested publication.Page details
- Date modified: