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Bank of Canada RSS Feedsen2024-03-28T15:55:11+00:00Liquidity Effects and Market Frictions
https://www.bankofcanada.ca/1998/07/working-paper-1998-11/
The goal of this paper is to shed light on the nature of the monetary transmission mechanism. Specifically, we attempt to tackle two problems in standard limited-participation models: (1) the interest rate liquidity effect is not as persistent as in the data; and (2) some nominal variables are unrealistically volatile. To address these problems, we […]1998-07-15T09:49:25+00:00enLiquidity Effects and Market Frictions1998-07-15Monetary policy transmissionWorking Paper 1998-11 https://www.bankofcanada.ca/wp-content/uploads/2010/05/wp98-11.pdfLiquidity Effects and Market FrictionsScott HendryGuang-Jia ZhangJuly 1998EE5