Impact of globalization on monetary policy : commentary

Monetary policy ; Globalization ; Banks and banking, Central ; Inflation (Finance)

Commentary : separating the business cycle from other economic fluctuations

Greenspan, Alan ; Monetary policy ; Business cycles

Global demographic change : some implications for central banks : overview panel

Population ; Banks and banking, Central

The economics of coronavirus

In most economic downturns, the appropriate policy response is qualitatively straightforward. This time it's different, writes Charles Bea

Financial frictions and the monetary transmission mechanism: theory, evidence and policy implications

This paper provides a brief survey of the role of financial frictions in the monetary transmission mechanism. After noting some of the key stylised facts that any model of the transmission mechanisms must be consistent with, we discuss both the classical interest rate channel and the credit and bank lending channels of monetary transmission. We then review the empirical evidence relating to the relative importance of these channels. Finally we consider what impact the presence of significant financial frictions might have on the conduct of monetary policy JEL Classification: E52, E58, E44bank-lending channel, credit channel, monetary policy, transmission mechanism