Central banking and financial innovation. A survey of the modern literature
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 of central bank instruments and current methods for implem...
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| Format: | Article |
| Language: | English |
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Associazione Economia civile
2012-04-01
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| Series: | PSL Quarterly Review |
| Subjects: | |
| Online Access: | https://rosa.uniroma1.it/rosa04/psl_quarterly_review/article/view/9912 |
| _version_ | 1811172415278940160 |
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| author | Jan Marc Berk |
| author_facet | Jan Marc Berk |
| author_sort | Jan Marc Berk |
| collection | DOAJ |
| description |
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 of central 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.
JEL Codes: E42, E58, E31, E51, E52
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| first_indexed | 2024-04-10T17:30:42Z |
| format | Article |
| id | doaj.art-d277a2749a59467caad193c884fb776a |
| institution | Directory Open Access Journal |
| issn | 2037-3635 2037-3643 |
| language | English |
| last_indexed | 2024-04-10T17:30:42Z |
| publishDate | 2012-04-01 |
| publisher | Associazione Economia civile |
| record_format | Article |
| series | PSL Quarterly Review |
| spelling | doaj.art-d277a2749a59467caad193c884fb776a2023-02-03T16:48:15ZengAssociazione Economia civilePSL Quarterly Review2037-36352037-36432012-04-015522210.13133/2037-3643/9912Central banking and financial innovation. A survey of the modern literatureJan Marc Berk 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 of central 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. JEL Codes: E42, E58, E31, E51, E52 https://rosa.uniroma1.it/rosa04/psl_quarterly_review/article/view/9912Central BankingMonetary PolicyMonetaryPolicyPrice LevelPrices |
| spellingShingle | Jan Marc Berk Central banking and financial innovation. A survey of the modern literature PSL Quarterly Review Central Banking Monetary Policy Monetary Policy Price Level Prices |
| title | Central banking and financial innovation. A survey of the modern literature |
| title_full | Central banking and financial innovation. A survey of the modern literature |
| title_fullStr | Central banking and financial innovation. A survey of the modern literature |
| title_full_unstemmed | Central banking and financial innovation. A survey of the modern literature |
| title_short | Central banking and financial innovation. A survey of the modern literature |
| title_sort | central banking and financial innovation a survey of the modern literature |
| topic | Central Banking Monetary Policy Monetary Policy Price Level Prices |
| url | https://rosa.uniroma1.it/rosa04/psl_quarterly_review/article/view/9912 |
| work_keys_str_mv | AT janmarcberk centralbankingandfinancialinnovationasurveyofthemodernliterature |