Narrow search
Showing 1 - 10 of 19,240
Cover Image
Monetary Policy During Liquidity Dry-Ups
Fiesel, Stefan - 2017
We provide new international evidence for a monetary policy liquidity transmission channel in the United States, United Kingdom, and the Eurozone. The central banks of these countries are, with a different degree, able to soften the economic downward spiral after an unexpected arrival of a...
Persistent link: https://www.econbiz.de/10012949651
Cover Image
The portfolio theory of inflation and policy (in)effectiveness revisited : corroborating evidence
Bossone, Biagio; Cuccia, Andrea - 2020
This study revisits and tests empirically the Portfolio Theory of Inflation (PTI), which analyzes how the effectiveness … (Bossone, The portfolio theory of inflation and policy (in)effectiveness, 2019). The PTI shows that when an economy is heavily … and policies aimed to stimulate output growth dissipate into domestic currency depreciation and higher inflation, with …
Persistent link: https://www.econbiz.de/10012140238
Cover Image
Stabilizing an unstable economy : on the choice of proper policy measures
Asada, Tōichirō; Chiarella, Carl; Flaschel, Peter; … - 2009
Currently, many monetary and fiscal policy measures are aimed at preventing the financial market meltdown that started in the US subprime sector and has spread worldwide as a great recession. Although some slow recovery appears to be on the horizon, it is worthwhile exploring the fragility and...
Persistent link: https://www.econbiz.de/10003905077
Cover Image
Stabilizing an unstable economy : on the choice of proper policy measures
Asada, Tōichirō; Chiarella, Carl; Flaschel, Peter; … - 2010
In the last months, the world's economies were confronted with the largest economic recession since the Great Depression. The occurrence of a worldwide financial market meltdown as a consequence originally stemming from of the crisis in the US subprime housing sector was only prevented by...
Persistent link: https://www.econbiz.de/10003985522
Cover Image
Issues in stability of European money demand : adjustment speed versus error variance
Läufer, Nikolaus - 1997
The current discussion about stability of the European money demand function is flawed by a confusion of two different concepts of stability (adjustment speed versus error variance). The meaning and importance of the underlying notions of stability is clarified. It is demonstrated that necessary...
Persistent link: https://www.econbiz.de/10009755225
Cover Image
The true nature of the portfolio balance channel of quantitative easing policy
Jakl, Jakub - In: Národohospodářský obzor : časopis věnovaný … 19 (2019) 2, pp. 95-117
This paper analyses the effects of the ECB's Public sector purchase programme (PSPP) on portfolios of the Eurozone investors. The ECB claims that the PSPP works mainly through the portfolio balance channel when the conditions on the asset markets are changed by the presence of a bidding central...
Persistent link: https://www.econbiz.de/10012026893
Cover Image
International effects of a compression of euro area yield curves
Feldkircher, Martin; Gruber, Thomas; Huber, Florian - 2019
In this paper, we use a Bayesian global vector autoregressive model to analyze the macroeconomic effects of a flattening of euro area yield curves. Our findings indicate positive effects on real activity and prices, both within the euro area as well as in neighboring economies. Spillovers...
Persistent link: https://www.econbiz.de/10012030981
Cover Image
Adaptive Models and Heavy Tails
Delle Monache, Davide - 2016
literature. The model is applied to the analysis of inflation dynamics. Allowing for heavy tails leads to significant … well-calibrated density forecasts. These results are obtained using the US CPI inflation rate and are confirmed by other … inflation indicators as well as the CPI of the other G7 countries …
Persistent link: https://www.econbiz.de/10012992532
Cover Image
Adaptive Models and Heavy Tails
Petrella, Ivan - 2016
how the two interact. The model is applied to the analysis of inflation dynamics. Allowing for heavy tails leads to … obtain well-calibrated density forecasts. These results are obtained using US CPI inflation rate and are confirmed for other … indicators of inflation as well as the CPI inflation of the other G7 countries. Finally, we show how the proposed approach …
Persistent link: https://www.econbiz.de/10013001911
Cover Image
Monetary policy over the life cycle
Braun, R. Anton; Ikeda, Daisuke - 2021 - August 2021 (Revised September 2021)
A tighter monetary policy is generally associated with higher real interest rates on deposits and loans, weaker performance of equities and real estate, and slower growth in employment and wages. How does a household's exposure to monetary policy vary with its age? The size and composition of...
Persistent link: https://www.econbiz.de/10012604303