当前位置: X-MOL 学术IMF Economic Review › 论文详情
Our official English website, www.x-mol.net, welcomes your feedback! (Note: you will need to create a separate account there.)
Can Policy Tame the Credit Cycle?
IMF Economic Review ( IF 3.3 ) Pub Date : 2021-01-22 , DOI: 10.1057/s41308-020-00125-1
Jeremy C. Stein

In this paper, I begin by providing a brief survey of recent research that highlights some of the key empirical facts about credit cycles. Next, I interpret these facts through a conceptual lens, asking what theoretical mechanisms appear to be most consistent with the data. And finally, I pose the question of what policymakers can do—with either regulatory tools or monetary policy—to help moderate credit-driven fluctuations in real activity.



中文翻译:

政策可以驯服信贷周期吗?

在本文中,我首先提供对最新研究的简要调查,以突出显示有关信贷周期的一些关键经验事实。接下来,我将通过概念的角度解释这些事实,并询问哪种理论机制似乎与数据最一致。最后,我提出一个问题,决策者可以采取什么手段-借助监管工具或货币政策-来帮助缓和信贷驱动的实际活动中的波动。

更新日期:2021-03-14
down
wechat
bug