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Financial intermediation and the monetary transmission mechanism

Author

Listed:
  • Iris Claus
  • Christie Smith

    (Reserve Bank of New Zealand)

Abstract

The article explores the role of financial intermediation in the monetary transmission mechanism. It discusses how and why shocks that affect lenders' willingness to lend can have an impact on economic activity, and why this needs to be factored into analyses of the interaction of monetary policy, the financial sector and the real economy.

Suggested Citation

  • Iris Claus & Christie Smith, 1999. "Financial intermediation and the monetary transmission mechanism," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 62, December.
    • Handle: RePEc:nzb:nzbbul:december1999:1
    as

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    File URL: http://www.rbnz.govt.nz/-/media/ReserveBank/Files/Publications/Bulletins/1999/1999dec62-4ClausSmith.pdf
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    References listed on IDEAS

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    Cited by:

    1. José Alberto Fuinhas, 2003. "O canal do crédito, o sobreendividamento e as crises económicas," Working Papers de Gestão, Economia e Marketing (Management, Economics and Marketing Working Papers) 03/2003, Universidade da Beira Interior, Departamento de Gestão e Economia (Portugal).
    2. Robert A Buckle & Kunhong Kim & Nathan McLellan, 2003. "The impact of monetary policy on New Zealand business cycles and inflation variability," Treasury Working Paper Series 03/09, New Zealand Treasury.
    3. Christie Smith, 2004. "The long-run effects of monetary policy on output growth," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 67, September.
    4. Olajide Oyadeyi & Temidayo Akinbobola, 2020. "Financial Development and Monetary Transmission Mechanism in Nigeria (1986-2017)," Asian Journal of Economics and Empirical Research, Asian Online Journal Publishing Group, vol. 7(1), pages 74-90.
    5. Arthur Grimes, 2001. "Review of New Zealand Monetary Policy," Agenda - A Journal of Policy Analysis and Reform, Australian National University, College of Business and Economics, School of Economics, vol. 8(4), pages 303-320.
    6. Iris Claus & Arthur Grimes, 2003. "Asymmetric Information, Financial Intermediation and the Monetary Transmission Mechanism: A Critical Review," Treasury Working Paper Series 03/19, New Zealand Treasury.

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