This thesis studies the eRects and eRectiveness of monetary policy. In a stylized way, the central bank changes the short-term interest rate and, via the term structure, long-term interest rates are aRected. Long-term rates are the relevant variables for firms’ investment and households’ saving decisions, which influence output and prices and, as a consequence, the final objectives of a central bank, e.g. price stability. This thesis looks carefully at some particular, and widely overlooked, issues along the above described transmission mechanism of monetary policy.
Páginas : 146
Peso : 1 mb.
Formato : PDF.
Edición : Primera.
Año de Publicación : 2004 .
Editorial : Universitat Autònoma De Barcelona
Autor : Julius Moschitz
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