00000nam 2200000zi 4500 9.891066 CaOODSP 20230928110412 m o d f cr cn||||||||| 200901t20202020oncd ob f000 0 eng d CaOODSP eng rda CaOODSP eng fre FB3-5/2020-34E-PDF Blattner, Tobias S., author. Monetary policy and cross-border interbank market fragmentation : lessons from the crisis / by Tobias S. Blattner and Jonathan M. Swarbrick. Ottawa, Ontario, Canada : Bank of Canada = Banque du Canada, 2020. ©2020 1 online resource (ii, 42 pages) : charts. text txt rdacontent computer c rdamedia online resource cr rdacarrier Staff working paper = Document de travail du personnel, 1701-9397 ; 2020-34 Cover title. "Last updated: August 27, 2020." Includes bibliographical references (pages 38-42). "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. Includes abstract in French. Monetary policy Econometric models. Business cycles Mathematical models. International finance. Politique monétaire Modèles économétriques. Finances internationales. Cycles économiques Modèles mathématiques. Bank of Canada, issuing body. Staff working paper (Bank of Canada) 1701-9397 ; 2020-34. (CaOODSP)9.806221 PDF 1.11 MB https://publications.gc.ca/collections/collection_2020/banque-bank-canada/FB3-5-2020-34-eng.pdf