Financial Innovation and Effectiveness of Monetary Policy

9 Pages Posted: 4 Sep 2008 Last revised: 25 May 2009

See all articles by P. K. Mishra

P. K. Mishra

Central University of Punjab

B. B. Pradhan

Independent

Date Written: September 3, 2008

Abstract

This paper examines the effectiveness of monetary policy in changing financial environments fostered by financial innovations. Financial innovation can make monetary analysis more complex, and modify the monetary policy transmission mechanism. This makes the monetary policy effective only in the short-period.

Keywords: Financial Innovation, Monetary policy

JEL Classification: E44, E52, E58

Suggested Citation

Mishra, P. K. and Pradhan, B. B., Financial Innovation and Effectiveness of Monetary Policy (September 3, 2008). Available at SSRN: https://ssrn.com/abstract=1262657 or http://dx.doi.org/10.2139/ssrn.1262657

P. K. Mishra (Contact Author)

Central University of Punjab ( email )

City Campus
Mansa Road
Bathinda, PA Punjab 151001
India
09438304849 (Phone)

HOME PAGE: http://www.cup.ac.in

B. B. Pradhan

Independent ( email )

No Address Available

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