Monetary policy transmission in a high inflation environment: a view from the past

Antonio Forte

MPRA Paper from University Library of Munich, Germany

Abstract: This paper describes the transmission of the monetary policy impulses to banking interest rates in Italy from the late 1960s to the mid-1980s. The study introduces three main novelties: firstly, the use of a completely new database sourced from original papers of that period; secondly, an analysis of the monetary policy transmission for interest rates on eight different types of loans and on loans to sixteen productive sectors; thirdly, the study of monetary policy transmission to regional and provincial interest rates on loans. This comprehensive study provides further awareness into the monetary policy transmission during a period of high inflation and offers valuable insights for the present.

Keywords: monetary policy; inflation; banks; interest rates (search for similar items in EconPapers)
JEL-codes: E43 E58 N14 (search for similar items in EconPapers)
Date: 2024-05
New Economics Papers: this item is included in nep-cba, nep-his and nep-mon
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:121396

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