Monetary Impact of a Banking Crisis and the Conduct of Monetary Policy / Alicia García-Herrero.

Format:

Book

Government document

Author/Creator:

García-Herrero, Alicia.

Series:

IMF Working Papers; Working Paper ; No. 1997/124

IMF Working Papers

Language:

English

Physical Description:

1 online resource (83 pages)

Place of Publication:

Washington, D.C. : International Monetary Fund, 1997.

Language Note:

English

Summary:

The experiences of seven countries that have undergone banking crises show that crises have significant implications for the short-run stability of the demand for money, the money multiplier, the transmission mechanism, and the signal variables of monetary policy. Monetary and credit instability, coupled with changes in the nature of the monetary and credit aggregates, complicate monetary management. These findings may require redesigning monetary instruments in favor of faster-reacting instruments, such as open market operations, and introducing additional indicators of the monetary stance, such as asset price and exchange rate movements. More frequent reviews of monetary programs may also be necessary.

Notes:

Bibliographic Level Mode of Issuance: Monograph

Description based on print version record.

ISBN:

9786613798497

9781462360000

1462360009

9781452784533

1452784531

9781282051041

1282051040

9781451899955

1451899955