Macro-Finance Linkages

Morley, James (2016) Macro-Finance Linkages. Journal of Economic Surveys, 30 (4). pp. 698-711. ISSN 0950-0804

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In this survey, I review the academic and policy-oriented literature on the linkages between financial markets and the rest of the economy. First, I summarize the leading economic theories for why the financial sector can influence the macroeconomy. Second, I consider empirical research on spillovers from the financial sector to the rest of the economy, as well as across financial markets in different countries. Third, I discuss key monetary policy debates regarding the appropriate response of central banks to financial conditions. Finally, I conclude with an overview of the major gaps in the existing literature.

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Journal of Economic Surveys
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15 Jan 2019 16:55
Last Modified:
22 Nov 2022 06:53