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Monetary policy transmission in a high inflation environment: a view from the past

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  • Forte, Antonio

Abstract

This paper describes the transmission of the monetary policy impulses to banking interest rates in Italy from the late 1960s to the mid-1980s. The study introduces three main novelties: firstly, the use of a completely new database sourced from original papers of that period; secondly, an analysis of the monetary policy transmission for interest rates on eight different types of loans and on loans to sixteen productive sectors; thirdly, the study of monetary policy transmission to regional and provincial interest rates on loans. This comprehensive study provides further awareness into the monetary policy transmission during a period of high inflation and offers valuable insights for the present.

Suggested Citation

  • Forte, Antonio, 2024. "Monetary policy transmission in a high inflation environment: a view from the past," MPRA Paper 121396, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:121396
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    File URL: https://mpra.ub.uni-muenchen.de/121396/1/MPRA_paper_121396.pdf
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    References listed on IDEAS

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    More about this item

    Keywords

    monetary policy; inflation; banks; interest rates;
    All these keywords.

    JEL classification:

    • E43 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Interest Rates: Determination, Term Structure, and Effects
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • N14 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: 1913-

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