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Monetary Transmission and Asset - Liability management by financial institutions in transitional economies - implications for czech monetary policy
Derviz, Alexis
The paper deals with the transmission of monetary policy within the financial sector. The objective is to link an optimizing stochastic model of portfolio decisions by a representative financial institution with a number of features that this optimizing behavior implies for monetary transmission and credit conditions in a transitional economy. The main example is the intermediation performance of Czech financial sector in the years 1993 to 1999.
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