Credit spread and monetary policy

被引：5

作者：

Teranishi, Yuki ^{[1
]}

机构：

[1] Bank Japan, Financial Syst & Bank Examinat Dept, Chuo Ku, Tokyo 1038660, Japan

来源：

ECONOMICS LETTERS | 2012年 / 114卷 / 01期

关键词：

Credit spread; Optimal monetary policy; Heterogeneous loan contracts;

D O I：

10.1016/j.econlet.2011.08.022

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We show that the spread-adjusted Taylor rule including a response to the credit spread is a theoretically optimal monetary policy under heterogeneous loan contracts. However, the optimal response to the credit spread is ambiguous, given the financial market structure. (C) 2011 Elsevier B.V. All rights reserved.

引用

页码：26 / 28

页数：3