Monetary Policy and Balance Sheets

WP/13/158

Monetary Policy and Balance Sheets
This paper evaluates the strength of the balance sheet channel in the U.S. monetary policy transmission mechanism over the past three decades. Using a Factor-Augmented Vector Autoregression model on an expanded data set, including sectoral balance sheet variables, we show that the balance sheets of various economic agents act as important links... READ MORE...

Publication date: July 2013
ISBN 9781484343500
$18.00

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Publication date: July 2013

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Publication date: July 2013

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