Endogenous Money Supply and Effects of Monetary Policy

Chai, Hee-Yul

doi:10.21023/jmf.31.1.3

Cited by 4 publications

(1 citation statement)

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“…They examine the period from 1991 to 2008 using a dynamic stochastic general equilibrium model with a financial sector that allows firms in the model to finance their investment through either bank loans or bond issuance. Chai (2017), on the other hand, points to the change in the monetary policy framework of the Bank of Korea (BOK) in 1998 from monetary targeting to inflation targeting. The Granger causality test shows that the BOK was able to control bank loans by adjusting the monetary base under the monetary targeting framework, but it became harder for it to affect bank loans since it adopted the inflation-targeting framework.…”

Section: Central Banking the Transmission Of Monetary Policymentioning

confidence: 99%

A Survey of the Literature on Banking in Korea : A Decade on from the Global Financial Crisis

Kim¹,

Sohn²

2022

Asian Review of Financial Research

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This paper reviews recent studies on banking in Korea by classifying a substantial body of literature into three categoriesthe role of banks in the real economy, the efficiency and performance of the banking industry, and regulatory and policy issues. This paper differs from previous survey literature in that it offers a comprehensive systematic literature review of banking studies in Korea in a decade on from the global financial crisis and presents statistics of research articles on various topics in banking published in major economics and finance journals. We find the rising trend of banking research across all subjects, and in particular, dramatic increases around the global financial crisis. This paper also reveals a lack of studies on several topics such as distributed ledger technologies and central bank digital currency, recommending future research on these topics.

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Section: Central Banking the Transmission Of Monetary Policymentioning

confidence: 99%