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Federal Reserve Bank of Chicago
Economic Perspectives
The role of banks in monetary policy: a survey with implications for the European Monetary Union
Anil K. Kashyap
Jeremy C. Stein
Abstract

This article begins with a review of the growing literature on the role of banks in the transmission of monetary policy. The authors then discuss the implications of this literature for the operation of monetary policy in the European monetary union.


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Anil K. Kashyap & Jeremy C. Stein, "The role of banks in monetary policy: a survey with implications for the European Monetary Union" , Federal Reserve Bank of Chicago, Economic Perspectives, issue Sep, pages 2-18, 1997.
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Keywords: Monetary unions - European Union countries ; Monetary policy ; Banks and banking
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