Monetary policy under financial turbulence: an overview

The financial crisis that started in 2007 brought the global economy to the brink and in many respects it is still unfolding especially in Europe. How to understand and deal with the crisis has naturally been the subject of fierce debates that continue today. However some consensus appears to be eme...

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Autores principales:	Céspedes, Luis Felipe, Chang, Roberto, Saravia, Diego
Formato:	Artículo
Lenguaje:	eng
Publicado:	Banco Central de Chile 2019
Materias:	POLÍTICA MONETARIA CRISIS FINANCIERA BANCOS CENTRALES INSTITUCIONES FINANCIERAS CRISIS ECONÓMICA 2008
Acceso en línea:	https://hdl.handle.net/20.500.12580/3877
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spelling	oai-20.500.12580-38772021-04-24T11:15:24Z Monetary policy under financial turbulence: an overview Céspedes, Luis Felipe Chang, Roberto Saravia, Diego POLÍTICA MONETARIA CRISIS FINANCIERA BANCOS CENTRALES INSTITUCIONES FINANCIERAS CRISIS ECONÓMICA 2008 The financial crisis that started in 2007 brought the global economy to the brink and in many respects it is still unfolding especially in Europe. How to understand and deal with the crisis has naturally been the subject of fierce debates that continue today. However some consensus appears to be emerging with regard to the shocks that originated the crisis the mechanisms that amplified those shocks and official policy responses especially from central banks. All of these aspects of the new consensus assign a substantially bigger role to financial imperfections and institutions than previously assumed to the point that one can safely say that for the next several years research on macroeconomic policy will be dominated by the interaction between financial frictions the financial system and aggregate fluctuations. 2019-11-01T00:05:20Z 2019-11-01T00:05:20Z 2011 Artículo 978-956-7421-35-0 https://hdl.handle.net/20.500.12580/3877 eng Series on Central Banking Analysis and Economic Policies no. 16 Attribution-NonCommercial-NoDerivs 3.0 Chile http://creativecommons.org/licenses/by-nc-nd/3.0/cl/ .pdf Sección o Parte de un Documento p. 01-21 application/pdf Banco Central de Chile
institution	Banco Central
collection	Banco Central
language	eng
topic	POLÍTICA MONETARIA CRISIS FINANCIERA BANCOS CENTRALES INSTITUCIONES FINANCIERAS CRISIS ECONÓMICA 2008
spellingShingle	POLÍTICA MONETARIA CRISIS FINANCIERA BANCOS CENTRALES INSTITUCIONES FINANCIERAS CRISIS ECONÓMICA 2008 Céspedes, Luis Felipe Chang, Roberto Saravia, Diego Monetary policy under financial turbulence: an overview
description	The financial crisis that started in 2007 brought the global economy to the brink and in many respects it is still unfolding especially in Europe. How to understand and deal with the crisis has naturally been the subject of fierce debates that continue today. However some consensus appears to be emerging with regard to the shocks that originated the crisis the mechanisms that amplified those shocks and official policy responses especially from central banks. All of these aspects of the new consensus assign a substantially bigger role to financial imperfections and institutions than previously assumed to the point that one can safely say that for the next several years research on macroeconomic policy will be dominated by the interaction between financial frictions the financial system and aggregate fluctuations.
format	Artículo
author	Céspedes, Luis Felipe Chang, Roberto Saravia, Diego
author_facet	Céspedes, Luis Felipe Chang, Roberto Saravia, Diego
author_sort	Céspedes, Luis Felipe
title	Monetary policy under financial turbulence: an overview
title_short	Monetary policy under financial turbulence: an overview
title_full	Monetary policy under financial turbulence: an overview
title_fullStr	Monetary policy under financial turbulence: an overview
title_full_unstemmed	Monetary policy under financial turbulence: an overview
title_sort	monetary policy under financial turbulence: an overview
publisher	Banco Central de Chile
publishDate	2019
url	https://hdl.handle.net/20.500.12580/3877
work_keys_str_mv	AT cespedesluisfelipe monetarypolicyunderfinancialturbulenceanoverview AT changroberto monetarypolicyunderfinancialturbulenceanoverview AT saraviadiego monetarypolicyunderfinancialturbulenceanoverview
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Monetary policy under financial turbulence: an overview

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