Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/266666 
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Erscheinungsjahr: 
2021
Quellenangabe: 
[Journal:] Journal of Economic Surveys [ISSN:] 1467-6419 [Volume:] 36 [Issue:] 5 [Publisher:] Wiley [Place:] Hoboken, NJ [Year:] 2021 [Pages:] 1510-1538
Verlag: 
Wiley, Hoboken, NJ
Zusammenfassung: 
This survey systematizes the rapidly growing literature on the influence of monetary policy and macroprudential policy on the macroeconomy. It examines the impact of monetary policy on the financial cycle and asks how macroprudential instruments influence the efficiency of monetary policy. The questions of whether monetary policy should take account of the financial cycle and lean against the wind is also addressed. The literature review shows that monetary policy is not neutral for financial stability, but should not take into account the financial cycle because the costs probably outweigh the benefits.
Schlagwörter: 
asset bubbles
leaning against the wind
macroprudential policies
risk‐taking channel
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