Financial Depth And The Asymmetric Impact Of Monetary Policy

dc.contributor.author	Caglayan, Mustafa
dc.contributor.author	Kocaaslan, Ozge Kandemir
dc.contributor.author	Mouratidis, Kostas
dc.date.accessioned	2019-12-23T08:11:04Z
dc.date.available	2019-12-23T08:11:04Z
dc.date.issued	2017
dc.identifier.issn	0305-9049
dc.identifier.uri	https://doi.org/10.1111/obes.12160
dc.identifier.uri	http://hdl.handle.net/11655/21245
dc.description.abstract	This paper investigates the importance of financial depth in evaluating the asymmetric impact of monetary policy on real output over the course of the US business cycle. We show that monetary policy has a significant impact on output growth during recessions. We also show that financial deepening plays an important role by dampening the effects of monetary policy shocks in recessions. The results are robust to the use of alternative financial depth and monetary policy shock measures as well as to two different sample periods.
dc.language.iso	en
dc.publisher	Wiley
dc.relation.isversionof	10.1111/obes.12160
dc.rights	info:eu-repo/semantics/openAccess
dc.subject	Business & Economics
dc.subject	Mathematical Methods In Social Sciences
dc.subject	Mathematics
dc.title	Financial Depth And The Asymmetric Impact Of Monetary Policy
dc.type	info:eu-repo/semantics/article
dc.type	info:eu-repo/semantics/publishedVersion
dc.relation.journal	Oxford Bulletin Of Economics And Statistics
dc.contributor.department	İktisat
dc.identifier.volume	79
dc.identifier.issue	6
dc.identifier.startpage	1195
dc.identifier.endpage	1218
dc.description.index	WoS