The Channels of Monetary Transmission: Lessons for Monetary Policy

Frederic Mishkin

No 5464, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: This paper provides an overview of the transmission mechanisms of monetary policy, starting with traditional interest rate channels, going on to channels operating through other asset prices, and then on to the so-called credit channels. The paper then discusses the implications from this literature for how central banks might best conduct monetary policy.

JEL-codes: E0 E5 (search for similar items in EconPapers)
Date: 1996-02
Note: EFG ME
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (334)

Published as Banque de France: Bulletin: Digest, no. 27, pp. 33-44, March 1996

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