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The political economy under monetary union: has the euro made a difference?
Fratzscher, Marcel; Stracca, Livio - 2008
Economic and Monetary Union (EMU) has transformed Europe and has created an integrated pan-European economy. Much … political economy channel of EMU as the monetary union implies that member states had to transfer or at least curtail their … impact of political shocks on the domestic economy of member states but magnified the transmission of political shocks within …
Persistent link: https://www.econbiz.de/10003794175
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Economic growth in the era of unconventional monetary instruments : a FAVAR approach
Fiorelli, Cristiana; Meliciani, Valentina - In: Journal of macroeconomics 62 (2019), pp. 1-20
Persistent link: https://www.econbiz.de/10012243438
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The role of money in monetary policy at the lower bound
Billi, Roberto M.; Söderström, Ulf; Walsh, Carl E. - In: Journal of money, credit and banking : JMCB 55 (2023) 4, pp. 681-716
Persistent link: https://www.econbiz.de/10014306106
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What are the spill-overs from fiscal shocks in Europe?
Giuliodori, Massimo; Beetsma, Roel - 2004
We use a Vector Auto Regression (VAR) analysis to explore the (spill-over) effects of fiscal policy shocks in Europe. To enhance comparability with the existing literature, we first analyse the effects of these shocks at the national level. Here, we employ identification based on Choleski...
Persistent link: https://www.econbiz.de/10009636548
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The inequality channel of monetary transmission
Areosa, Waldyr Dutra; Areosa, Marta Baltar Moreira - In: Journal of macroeconomics 48 (2016), pp. 214-230
Persistent link: https://www.econbiz.de/10011707794
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The monetary transmission mechanism at the euro-area level : issues and results using structural macroeconomic models
McAdam, Peter; Morgan, Julian - 2001
Persistent link: https://www.econbiz.de/10001637008
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What accounts for the changes in U.S. fiscal policy transmission?
Bilbiie, Florin O. (contributor); Meier, André (contributor) - 2006
Using vector autoregressions on U.S. time series for 1957-1979 and 1983-2004, we find government spending shocks to have stronger effects on output, consumption, and wages in the earlier sample. We try to account for this observation within a DSGE model featuring price rigidities and limited...
Persistent link: https://www.econbiz.de/10003274698
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What accounts for the changes in US fiscal policy transmission
Bilbiie, Florin Ovidiu; Meier, André; Müller, Gernot J. - In: Journal of money, credit and banking : JMCB 40 (2008) 7, pp. 1439-1469
Persistent link: https://www.econbiz.de/10003761417
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Monetary policy transmission to mortgages in a negative interest rate environment
Amzallag, Adrien; Calza, Alessandro; Georgarakos, Dimitris - 2019
Do negative policy rates hinder banks' transmission of monetary policy? To answer this question, we examine the behaviour of Italian mortgage lenders using a novel loan-level dataset. When policy rates turn negative, banks with higher ratios of retail overnight deposits to total assets charge...
Persistent link: https://www.econbiz.de/10011975610
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Macroeconomic stabilisation and monetary policy effectiveness in a low-interest-rate environment
Coenen, Günter; Montes-Galdón, Carlos; Schmidt, Sebastian - 2021
The secular decline in the equilibrium real interest rate observed over the past decades has materially limited the room for policy-rate reductions in recessions, and has led to a marked increase in the incidence of episodes where policy rates are likely to be at, or near, the effective lower...
Persistent link: https://www.econbiz.de/10012594057