Abstract: This paper surveys recent work that relates to the view of monetary policy transmission. It has three main goals: 1) to explain why it is important to distinguish between the lending and money views of policy transmission; 2) to outline the microeconomic conditions that are needed to generate a lending channel; and 3) to review the empirical evidence that bears on the lending view.
Publication Year: 1994
Publication Date: 1994-01-01
Language: en
Type: preprint
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Cited By Count: 367
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