Central banking and financial innovation. A survey of the modern literature

Jan Marc Berk ()
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Jan Marc Berk: De Nederlandsche Bank, Monetary and Economic Policy Department, Vrije Universiteit, Faculty of Economics and Business Administration, and Tinbergen Institute, Amsterdam (The Netherlands)

BNL Quarterly Review, 2002, vol. 55, issue 222, 263-297

Abstract: We review the literature regarding the impact of financial innovation on the monetary transmission mechanism and on the way the central bank can achieve its ultimate goal, that is to control the price level. We argue that, although the form ofcentral bank instruments and current methods for implementing monetary policy may change, the goals that the policy makers try achieve by employing these instruments remain valid, and achievable.

Keywords: Central Banking; Monetary Policy; Monetary; Policy; Price Level; Prices (search for similar items in EconPapers)
JEL-codes: E31 E42 E51 E52 E58 (search for similar items in EconPapers)
Date: 2002
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Citations: View citations in EconPapers (1)

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