The financial accelerator and monetary policy rules

Gunes Kamber and Christoph Thoenissen

Economics Letters, 2012, vol. 115, issue 2, 309-313

Abstract: Comparing Bernanke et al.’s (1999) financial accelerator model to a comparable model without an operational financial accelerator mechanism, we find that financial acceleration is reduced when monetary policy reacts to the output gap and when firm-specific volatility rises.

Keywords: Financial acceleration; Financial frictions; Monetary policy (search for similar items in EconPapers)
JEL-codes: E32 E52 (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (3)

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Working Paper: The financial accelerator and monetary policy rules (2012)
Working Paper: The financial accelerator and monetary policy rules (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:115:y:2012:i:2:p:309-313

DOI: 10.1016/j.econlet.2011.12.068

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