| dc.contributor | 財政系 | |
| dc.creator (作者) | Chang, Jui-Chuan Della;Huang, Chen-Jui;Chien, I-Che | |
| dc.date (日期) | 2014 | |
| dc.date.accessioned | 14-Dec-2015 17:33:38 (UTC+8) | - |
| dc.date.available | 14-Dec-2015 17:33:38 (UTC+8) | - |
| dc.date.issued (上傳時間) | 14-Dec-2015 17:33:38 (UTC+8) | - |
| dc.identifier.uri (URI) | http://nccur.lib.nccu.edu.tw/handle/140.119/79648 | - |
| dc.description.abstract (摘要) | This paper deepens our understanding of the importance of the cost channel of monetary policy, where inflation adjusts with a firm`s marginal cost of working capital. A model extended for a small, open economy with financial frictions is proposed and examined with data from Taiwan. The cost channel effect on inflation adjustment is substantiated by simultaneous generalized method of moments estimations and appears to be strengthened by financial frictions but mitigated by external shocks. Greater caution is hence required in the conduct of monetary policy for a bank-dependent emerging economy such as Taiwan because of the relative complexity in its supply-side interest rate pass-through. | |
| dc.format.extent | 125 bytes | - |
| dc.format.mimetype | text/html | - |
| dc.relation (關聯) | Emerging Markets Finance and Trade, Volume 50, Issue 2, pages 138-152 | |
| dc.subject (關鍵詞) | cost channel, external shock, financial friction, monetary policy | |
| dc.title (題名) | Cost Channel of Monetary Policy: Financial Frictions and External Shocks | |
| dc.type (資料類型) | article | |
| dc.identifier.doi (DOI) | 10.2753/REE1540-496X500208 | |
| dc.doi.uri (DOI) | http://dx.doi.org/10.2753/REE1540-496X500208 | |
