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Disintermediation and monetary transmission in Canada / / Jorge Roldos



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Autore: Roldos Jorge Visualizza persona
Titolo: Disintermediation and monetary transmission in Canada / / Jorge Roldos Visualizza cluster
Pubblicazione: [Washington, D.C.], : International Monetary Fund, c2006
Edizione: 1st ed.
Descrizione fisica: 1 online resource (35 p.)
Soggetto topico: Capital market - Canada
Finance - Canada
Monetary policy - Canada
Money market - Canada
Note generali: "March 2006."
Nota di bibliografia: Includes bibliographical references.
Nota di contenuto: ""Contents""; ""I. INTRODUCTION""; ""II. FINANCIAL DEREGULATION AND DISINTERMEDIATION""; ""III. CHANGES IN MONETARY TRANSMISSION: EVIDENCE FROM VAR MODELS""; ""IV. CHANGES IN MONETARY TRANSMISSION: EVIDENCE FROM STRUCTURAL MODELS""; ""V. CONCLUSIONS AND POLICY IMPLICATIONS""; ""References""
Sommario/riassunto: This paper studies changes in Canada's monetary policy transmission, associated with the important changes in financial structure experienced in the 1990's, using two methodologies. First, VAR models show a clear break in monetary transmission beginning in 1988, after changes in financial regulation initiated the process of financial disintermediation. Second, estimates of the interest rate elasticity of aggregate demand in IS equations increase in the 1990's, suggesting that the systematic component of monetary policy has become more relevant. The ratio of direct to indirect finance, a measure of disintermediation, contributes to explain changes in the interest rate elasticity, suggesting an increased effectiveness of monetary policy associated with a larger use of market-based sources of finance.
Titolo autorizzato: Disintermediation and Monetary Transmission in Canada  Visualizza cluster
ISBN: 1-4623-4174-8
1-4527-6427-1
1-282-54545-0
1-4519-0879-2
9786613822130
Formato: Materiale a stampa
Livello bibliografico Monografia
Lingua di pubblicazione: Inglese
Record Nr.: 9910819874203321
Lo trovi qui: Univ. Federico II
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Serie: IMF working paper ; ; WP/06/84.