How does monetary policy respond to the dynamics of the shadow banking sector?

We investigate the response of the central bank to the change in size of non-bank financial intermediaries. Using quarterly data for the U.S. over the period 1946:Q1-2016Q4, we find that when faced with an increase in the asset growth of the securities' brokers and dealers and the shadow bankin...

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Bibliographic Details
Main Authors: Luca Agnello, Vitor Castro, Fredj Jawadi, Ricardo Sousa
Format: Default Article
Published: 2019
Subjects:
Asset growth
Inflation
Monetary policy
Nonbank financial intermediaries
Shadow banking
Taylor rule
Online Access:https://hdl.handle.net/2134/9849680.v1
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https://hdl.handle.net/2134/9849680.v1

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