Revival of Legacy of Tooke and Gibson: Further Evidence and Implications for Monetary Policy
Traditional economics assumes that interest rate effects inflation by changing the aggregate demand (Barth and Ramay, 2002). On the other hand, many economists in recent years have explored the cost side effects of monetary transmission and found very strong evidences in favour of cost channel. One...
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| Format: | Article |
| Language: | English |
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Sciendo
2017-09-01
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| Series: | Journal of Central Banking Theory and Practice |
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| Online Access: | https://doi.org/10.1515/jcbtp-2017-0023 |