Publications - Series on Central Banking 26 - Portal Biblioteca

Series on Central Banking 26: Monetary Policy and Financial Stability: Transmission Mechanisms and Policy Implications

Series on Central Banking 26: Monetary Policy and Financial Stability: Transmission Mechanisms and Policy Implications

The global financial crisis that broke out 10 years ago uncovered the buildup of risks during a period of price and output stability. It challenged the previous consensus that preserving price stability was the optimal way to ensure financial stability, and led to a surge of interest in the multiple interactions between monetary policy frameworks, financial vulnerabilities and financial stability. This volume contributes to the study of these issues as well as the convenience of incorporating financial stability considerations in monetary policy frameworks, bringing together a multinational group of distinguished scholars to discuss the latest research findings. It is of utmost importance to understand how monetary policy affects both financial conditions and financial vulnerabilities that amplify negative shocks, as well as the potential intertemporal policy trade-off between improving current conditions and exacerbating future financial vulnerabilities.

Language: English

Edited by: Álvaro Aguirre, Markus Brunnermeier y Diego Saravia

Published: June 2019

$15.000

Available for free in digital format in the Digital Repository and Institutional Website

Work belonging to the Collection of Paintings of the Central Bank of Chile: "Araucarias" by Onofre Jarpa (1849-1940) (Oil on canvas, 55 x 70 cm.)