A Conference on Liquidity, Monetary Policy, and Financial Intermediation
1994年克利夫兰联储与货币信贷银行杂志联合举办会议，探讨价格刚性、家庭储蓄决策缓慢、通胀与金融中介互动等对货币政策的影响。
Introduction In September 1994, the Federal Reserve Bank of Cleveland and the Journal of Money, Credit, and Banking sponsored a conference on liquidity, monetary policy, and financial intermediation. This symposium was the fifth in a jointly sponsored series aimed at promoting research on basic issues in monetary policy, financial markets, and the payments system. This particular conference dealt with monetary policy issues. The papers included examinations of the macroeconomic effects of price rigidity and "sluggish" savings decisions by households (that is, the assumption of limited participation in financial markets), the interaction of inflation and financial intermediation, and the "deep structural" estimation of parameters in models with money and financial intermediation. The common thread in all of these studies is the attempt to move us farther down the road to understanding the fundamental structures that ultimately determine the economic consequences of monetary policy. A co