Skip to main content Accessibility help

We use cookies to distinguish you from other users and to provide you with a better experience on our websites. Close this message to accept cookies or find out how to manage your cookie settings.

Close cookie message
×
Hostname: page-component-78c5997874-94fs2 Total loading time: 0 Render date: 2024-11-05T01:03:57.064Z Has data issue: false hasContentIssue false

3 - The Transmission Channels of Money and Credit

from Part II - How Does Money Affect the Korean Economy?

Published online by Cambridge University Press:  17 February 2022

Woosik Moon
Woosik Moon
Affiliation:
Seoul National University
Get access

Summary

If wages and prices are flexible enough, money can be neutral in the long term and has little impact on business fluctuations. In the short term, however, money can affect national output and employment because wages and prices are rigid. This chapter looks at the effect of money on prices and on short-term economic fluctuations in Korea. Finally, the chapter examines the relationship (Phillips-curve relationship) between inflation and output in Korea.

Keywords

Transmission channels of money and creditdeflationasset inflationexpectations channelflattened Phillips curve
Type
Chapter
Information
Monetary Policy and Central Banking in Korea , pp. 54 - 78
Publisher: Cambridge University Press
Print publication year: 2022

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

Save book to Kindle

To save this book to your Kindle, first ensure [email protected] is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.

Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.

Find out more about the Kindle Personal Document Service.

Available formats
×

Save book to Dropbox

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.

Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

Available formats
×