Abstract
There is a consensus among economists that the instruments of monetary policy are able to generate real effects – at least in the short run. The exact mechanism is still the subject of controversial debate. Some time has passed since Milton Friedman concluded that “long and variable lags” are involved in transmitting monetary policy impulses (Friedman (1960), p. 87); yet the controversy has remained.
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© 2015 Springer Fachmedien Wiesbaden
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Brinkmeyer, H. (2015). Transmission channels of monetary policy. In: Drivers of Bank Lending. Schriften zum europäischen Management. Springer Gabler, Wiesbaden. https://doi.org/10.1007/978-3-658-07175-2_2
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DOI: https://doi.org/10.1007/978-3-658-07175-2_2
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Publisher Name: Springer Gabler, Wiesbaden
Print ISBN: 978-3-658-07174-5
Online ISBN: 978-3-658-07175-2
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