The Microeconomic Dimension of Monetary Policy
This paper which touches on the links between the macroeconomic and microeconomic dimensions of monetary management, argues that bank soundness is a sine quo non of price stability (or exchange rate stability), and vice versa. It then describes the structural weaknesses of a banking system that create conditions for a financial crisis. The paper concludes by describing how official oversight can buttress market discipline, given some externalities inherent in the banking industry and the public goods nature of banking soundness.
|This book is provided by South East Asian Central Banks (SEACEN) Research and Training Centre in its series Staff Papers with number sp59 and published in 1997.|
|Contact details of provider:|| Postal: Level 5, Sasana Kijang, Bank Negara Malaysia, 2 Jalan Dato? Onn, 50480 Kuala Lumpur|
Phone: 603-9195 1888
Fax: 603-9195 1801
Web page: http://edirc.repec.org/data/seacemy.html
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:sea:spaper:sp59. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Yunyee)
If references are entirely missing, you can add them using this form.