Monetary policy and cross-border interbank market fragmentation : lessons from the crisis / by Tobias S. Blattner and Jonathan M. Swarbrick.: FB3-5/2020-34E-PDF
"We present a two-country model featuring risky lending and cross-border interbank market frictions. We find that (i) the strength of the financial accelerator, when applied to banks operating under uncertainty in an interbank market, will critically depend on the economic and financial structure of the economy; (ii) adverse shocks to the real economy can be the source of banking crisis, causing an increase in interbank funding costs, aggravating the initial shock; and (iii) asset purchases and central bank long-term refinancing operations can be effective substitutes for, or supplements to, conventional monetary policy"--Abstract, page ii.
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| Department/Agency | Bank of Canada, issuing body. |
|---|---|
| Title | Monetary policy and cross-border interbank market fragmentation : lessons from the crisis / by Tobias S. Blattner and Jonathan M. Swarbrick. |
| Series title | Staff working paper = Document de travail du personnel, 1701-9397 ; 2020-34 |
| Publication type | Series - View Master Record |
| Language | [English] |
| Format | Electronic |
| Electronic document | |
| Note(s) | Cover title. "Last updated: August 27, 2020." Includes bibliographical references (pages 38-42). Includes abstract in French. |
| Publishing information | Ottawa, Ontario, Canada : Bank of Canada = Banque du Canada, 2020. ©2020 |
| Author / Contributor | Blattner, Tobias S., author. |
| Description | 1 online resource (ii, 42 pages) : charts. |
| Catalogue number |
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| Subject terms | Monetary policy -- Econometric models. Business cycles -- Mathematical models. International finance. Politique monétaire -- Modèles économétriques. Finances internationales. Cycles économiques -- Modèles mathématiques. |
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